As per the Council's proposal, platform tickets, retiring rooms, waiting rooms, cloakrooms and battery-powered vehicle services are being kept out of the purview of GST.
New Delhi : Central Govt's big move in 53rd GST Council meeting. The GST Council headed by union finance minisre Nirmala Sitharaman on Saterday anounced various recommendations relating to taxation, ITC claims and demand notices. GST Council recommended a uniform rate of 12% on all milk cans. Exempt railway platform tickets and other services provided by railway from GST. Waiver of interest on penalties on tax demand notice was also recommended by the Council. Announcing the decisions of the GST Council, FM said, “Council recommended to prescribe a uniform rate of 12% on all milk cans meaning steel, iron, and aluminum which are irrespective of the use. They are called milk cans but wherever they are used that will be the rate applicable so that no disputes arise out of it,” FM said. She announced decisions regarding the reduction of GST besides announcing that biometric authentication will be introduced systematically across the country to prevent fake bills. She further said, “Aadhaar-based biometric identification will also be ensured across the country. This will prevent fake input tax credit through fake invoices.”
As per the Council's proposal, platform tickets, retiring rooms, waiting rooms, cloakrooms and battery-powered vehicle services are being kept out of the purview of GST. It goes without saying that long-distance train passengers will benefit if this proposal is implemented. Apart from this, it has been proposed to exempt the hostels outside educational institutions from GST. Until now, students had to pay GST for the hostels where the students stayed outside the private hostels and educational institutions. However, this rule did not apply to hostels inside educational institutions. Hostels outside educational institutions have been proposed to be exempted from GST. The students of the country will benefit from this decision.
Today's council meeting recommended waiver of interest on penalty on tax demand notices. Nirmala said in this regard, CGST pre-deposit has been reduced from Tk 25 crore to Tk 20 crore for appeal to the Appellate Authority. To help small taxpayers, the Council has recommended a date of up to June 30 for GSTR4 for filing returns for 2024-25. Apart from this, another decision was taken in the GST Council meeting to reduce the number of cases. The financial limit of the GST Appellate Tribunal has been increased to Tk 20 lakh. The same amount will be Rs 1 crore for High Court and Rs 2 crore for Supreme Court. And interest on demand notices for 2017-18, 2018-19, 2019-20 will be waived if tax is deposited by March 2025.
Union Finance Minister Nirmala Sitharaman had to face questions regarding the issuance of large number of GST notices in the press conference on this day. Nirmala cleared it and pushed the ball to the court of the state. He said, “Central GST department has sent notices to only 1.96 per cent taxpayers. That number is close to 1 lakh 14 thousand. Whereas the GST Departments of the State Governments have sent more than 14 lakh GST notices. A total of 50 lakh 80 thousand people pay GST across the country. Only less than 2 percent of them have been notified by the Centre. So the allegation of sending more number of GST notices on the central government is not correct.”
New Delhi : Central Govt's big move in 53rd GST Council meeting. The GST Council headed by union finance minisre Nirmala Sitharaman on Saterday anounced various recommendations relating to taxation, ITC claims and demand notices. GST Council recommended a uniform rate of 12% on all milk cans. Exempt railway platform tickets and other services provided by railway from GST. Waiver of interest on penalties on tax demand notice was also recommended by the Council. Announcing the decisions of the GST Council, FM said, “Council recommended to prescribe a uniform rate of 12% on all milk cans meaning steel, iron, and aluminum which are irrespective of the use. They are called milk cans but wherever they are used that will be the rate applicable so that no disputes arise out of it,” FM said. She announced decisions regarding the reduction of GST besides announcing that biometric authentication will be introduced systematically across the country to prevent fake bills. She further said, “Aadhaar-based biometric identification will also be ensured across the country. This will prevent fake input tax credit through fake invoices.”
As per the Council's proposal, platform tickets, retiring rooms, waiting rooms, cloakrooms and battery-powered vehicle services are being kept out of the purview of GST. It goes without saying that long-distance train passengers will benefit if this proposal is implemented. Apart from this, it has been proposed to exempt the hostels outside educational institutions from GST. Until now, students had to pay GST for the hostels where the students stayed outside the private hostels and educational institutions. However, this rule did not apply to hostels inside educational institutions. Hostels outside educational institutions have been proposed to be exempted from GST. The students of the country will benefit from this decision.
Today's council meeting recommended waiver of interest on penalty on tax demand notices. Nirmala said in this regard, CGST pre-deposit has been reduced from Tk 25 crore to Tk 20 crore for appeal to the Appellate Authority. To help small taxpayers, the Council has recommended a date of up to June 30 for GSTR4 for filing returns for 2024-25. Apart from this, another decision was taken in the GST Council meeting to reduce the number of cases. The financial limit of the GST Appellate Tribunal has been increased to Tk 20 lakh. The same amount will be Rs 1 crore for High Court and Rs 2 crore for Supreme Court. And interest on demand notices for 2017-18, 2018-19, 2019-20 will be waived if tax is deposited by March 2025.
Union Finance Minister Nirmala Sitharaman had to face questions regarding the issuance of large number of GST notices in the press conference on this day. Nirmala cleared it and pushed the ball to the court of the state. He said, “Central GST department has sent notices to only 1.96 per cent taxpayers. That number is close to 1 lakh 14 thousand. Whereas the GST Departments of the State Governments have sent more than 14 lakh GST notices. A total of 50 lakh 80 thousand people pay GST across the country. Only less than 2 percent of them have been notified by the Centre. So the allegation of sending more number of GST notices on the central government is not correct.”
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