Finance Minister Nirmala Sitharaman Chairs 49th GST Council Meet In Delhi

New Delhi:

Union Finance Minister Nirmala Sitharaman in the present day chaired the forty ninth assembly of the Items and Providers Tax (GST) Council, in Vigyan Bhawan, New Delhi.

The Union Finance Minister, Union Minister of State for Finance Pankaj Chaudhary, moreover the finance ministers of states and Union Territories (with legislature) and senior officers from the Union authorities and states, attended the assembly, in response to the finance ministry’s official deal with – @FinMinIndia.

With the assembly being attended by varied officers from the Centre and state governments, it’s anticipated the council is prone to talk about organising appellate tribunals and mechanisms to curb tax evasion in pan masala and gutkha enterprise.

The much-awaited report by the Group of Ministers on on-line gaming and GST appellate tribunal is unlikely to be submitted within the assembly, Central Board of Oblique Taxes and Customs (CBIC) Chairman Vivek Johri had earlier mentioned.

The forty eighth Assembly of the GST Council was held on December 17, 2022, via video convention.

On the final assembly, the GST Council had advisable decriminalising three several types of offences, together with the tampering of fabric proof. They pertain to obstructing or stopping any officers within the discharge of his duties, deliberate tampering of fabric proof, and failure to produce data. Additionally, GST charges on pulses husk and knives have been diminished from 5 per cent to nil.

Items and Providers Tax was launched within the nation with impact from July 1, 2017 and states have been assured for compensation for lack of any income arising on account of the implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for a interval of 5 years.
 

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