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GST Council

GST Council Proposes Tax-Free Health Premiums

GST Council Proposes Tax-Free Health Premiums

Thu, Nov 07, 2024

The GST Council is considering a proposal to make health insurance premiums tax-free. This move aims to reduce the financial burden on policyholders and promote wider access to healthcare coverage. If approved, the change could simplify tax calculations for individuals and encourage more people to invest in health insurance. This potential policy shift could have significant implications for the insurance industry and consumers alike

GST Council sets up GoM on compensation cess; panel to submit report by December 31

GST Council sets up GoM on compensation cess; panel to submit report by December 31

Fri, Sep 27, 2024

With just one-and-a-half year remaining for the cess to end, the GST Council in its 54th meeting on September 9 decided to set up a GoM to decide the future course of the cess.

GST Council: Rate rationalisation Group of Ministers to meet on September 25 to discuss slab, rate changes

GST Council: Rate rationalisation Group of Ministers to meet on September 25 to discuss slab, rate changes

Sun, Sep 22, 2024

During the August meeting, the panel had tasked the fitment committee comprising tax officers from the Centre and states to analyse the implication of tax rate change on some items and gather more data.

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GST Council meet: From Sanitary napkins to electronic products; these items got relief from 28% GST rate

GST Council meet: From Sanitary napkins to electronic products; these items got relief from 28% GST rate

Sat, Jul 21, 2018

The meeting was chaired by Union Minister of Railways, Coal, Finance and Corporate Affairs Piyush Goyal.

Natural gas, ATF come under GST this week? Here are details

Natural gas, ATF come under GST this week? Here are details

Sun, Jul 15, 2018

The all-powerful GST Council may this week consider bringing jet fuel (ATF) and natural gas under GST ambit but tax slab is acting as a deterrent, people familiar with the matter said

GST Council asks Centre, states to quickly set up appellate authorities

GST Council asks Centre, states to quickly set up appellate authorities

Sun, May 20, 2018

The GST Council has asked the Centre and states to expedite setting up of appellate authorities for aggrieved entities to appeal against orders of the Authority for Advance Rulings (AAR). With AARs in different states started giving rulings since March, it has become imperative for the Centre as well as states to set up the Appellate Authority for Advance Ruling (AAAR), an official said

Govt has proposed 5% GST on ethanol: Paswan

Govt has proposed 5% GST on ethanol: Paswan

Sun, May 06, 2018

It was decided in the GST Council meeting, held yesterday, that a separate group of ministers would look into the issue of levy of cess on sugar as well as reduction of GST on ethanol.

GST Council meet: Single monthly returns for businesses coming, but not very soon

GST Council meet: Single monthly returns for businesses coming, but not very soon

Fri, May 04, 2018

According to the finance secretary, simplification of GST returns filing has been a long-time agenda before the council, and added that single filing return will be applicable for everybody except for businesses opting for composition scheme and filing nil returns. Adhia stated that the new single monthly return for B to C will comprise details of total turnover, and for B to B will consists the details of all sales invoices along with 4-digit HSN code.

GST Council meet: Big move! GST-Network to turn govt entity, not to remain private

GST Council meet: Big move! GST-Network to turn govt entity, not to remain private

Fri, May 04, 2018

GST Council has approved making GST-Network a government entity by taking over 51% stake that was held by private entities, revealed FM Arun Jaitley today. finance minister added, "Central government to own 50% in GST-Network; states to collectively hold the remaining 50%."

Sugar cess: GST Council to decide today; looks to raise Rs 1,540 cr

Sugar cess: GST Council to decide today; looks to raise Rs 1,540 cr

Fri, May 04, 2018

The proposal to impose the cess on sugar will be discussed today at the meeting of GST Council, to be chaired by Union finance minister Arun Jaitley. The Centre and states need to have a consensus on the decision. The meeting will be joined by the state finance ministers through video conferencing. The Council may also discuss slashing the GST rate on ethanol from the current 18%, a demand raised by the oil companies.

GST returns filing: Sushil Modi panel unveils new fusion model

GST returns filing: Sushil Modi panel unveils new fusion model

Wed, Apr 18, 2018

The panel met the industry representatives, tax experts and the state tax officials on simplifying the return process. Nandan Nilekani, non-executive chairman of Infosys, was also present in the deliberations. GST Network (GSTN), the IT backbone of GST, has been implemented by software firm Infosys.

GST return filing: Sushil Modi led GoM finalises new model

GST return filing: Sushil Modi led GoM finalises new model

Tue, Apr 17, 2018

E-way bill for intra-state movement of goods would be rolled out for six states, including Bihar, Haryana and Madhya Pradesh, from April 20. Bihar Deputy Chief Minister Sushil Modi said so far the e-way bill roll out has been smooth with no major problem being reported from any part of the countr

GSTN glitches: Govt sets up this mechanism to help taxpayers file TRAN-1

GSTN glitches: Govt sets up this mechanism to help taxpayers file TRAN-1

Wed, Apr 04, 2018

The GST Council has delegated powers to an IT Grievance Redressal Committee to approve and recommend to the GSTN the steps to be taken to redress the grievances and provide relief to the taxpayers. The circular seeks to address the problems faced by the taxpayers who could not complete the process of filing of TRAN-1 by due date in the wake of IT glitches

Moving goods worth over Rs 50,000 across state borders? What you must do from Apr 1

Moving goods worth over Rs 50,000 across state borders? What you must do from Apr 1

Fri, Mar 30, 2018

The GST Council, earlier this month, decided on a staggered rollout of the e-way bill starting with inter-state from April 1 and intra-state from April 15. The platform has been made more robust and as many as 75 lakh inter-state e-way bills could be generated daily without any glitch. The system has been designed and developed by National Informatics Centre (NIC).

Businesses must register on e-way bill platform; here is what FinMin has said

Businesses must register on e-way bill platform; here is what FinMin has said

Wed, Mar 28, 2018

Businesses would be required to present the electronic way (e-way) bill to a GST inspector (if asked) for inter-state transportation of goods worth over Rs 50,000 through road, railways, airways and vessels. Finance Secretary Hasmukh Adhia said the company handling the backbone of the new indirect tax regime, GST Network, is much better prepared to roll out the new system from April 1

GST collection not-so-encouraging, says this panel

GST collection not-so-encouraging, says this panel

Sat, Mar 10, 2018

GST collection: Parliamentary panel observed that the frequent revisions in rates have affected the regime stability, with adverse impact on trade and business

GST council meet: GSTR-3B may be extended till June, simplified return forms on cards

GST council meet: GSTR-3B may be extended till June, simplified return forms on cards

Fri, Mar 09, 2018

The 26th GST Council meet is slated on March 10. Simplified sales return GSTR-3B was introduced in July, the month of GST roll out, to help businesses to file returns easily in the initial months of GST roll out. This was to be followed with filing of final returns -- GSTR - 1, 2 and 3.

GST Council may simplify returns filing

GST Council may simplify returns filing

Mon, Feb 26, 2018

The Goods and Services Tax (GST) Council is likely to discuss the proposals on simplification of GST returns filing in its meeting scheduled early next month.

Next GST Council meet may liberlise rules, revamp filing process

Next GST Council meet may liberlise rules, revamp filing process

Mon, Feb 19, 2018

The 26th meeting of the council, held through a video conference, is expected to take measures that will make compliance easier for small businesses and traders, said the report.

GST e-way bill software set to be overhauled

GST e-way bill software set to be overhauled

Thu, Feb 15, 2018

Currently, the GST Network (GSTN) that maintains the digital infrastructure on which various platforms are being developed for consumer services, is working on making e-way-bill "simpler and better".

GST relief for circus, dance and theatrical performances

GST relief for circus, dance and theatrical performances

Wed, Feb 07, 2018

These services earlier attracted GST @ 28%. Requests were received from several quarters that amusement parks promote social wellness and beget fun and learning for children and their families in a real active entertainment and therefore, the rate may be reduced to 18%.

GST anti-evasion: Cess likely on pan masala at manufacturing stage

GST anti-evasion: Cess likely on pan masala at manufacturing stage

Sun, Jan 21, 2018

The Council will look at levying the cess at the manufacturing stage based on production capacity as against the current practice of imposing it on supplies made by the manufacturer

GST on entry to amusement parks, drinking water cut; here's what becomes cheaper post January 25

GST on entry to amusement parks, drinking water cut; here's what becomes cheaper post January 25

Fri, Jan 19, 2018

Among the 29 goods that have received a rate cut were second-hand vehicles medium and large cars and SUVs from 28% to 18%. Items like confectionery sugar and bio-diesel have also received a tax cut.

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