GST Council Meet: GST Council meeting begins on Tuesday | India Business News – Times of India
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NEW DELHI: The GST Council is being chaired by union finance minister Nirmala Sitharaman in Chandigarh today. The 2-day meeting, which begun today, is also being attended by the finance ministers of states and union territories and senior officers from the union government and states.
“The meeting is being chaired by hon’ble union minister of finance @nsitharaman and many important decisions are expected to be taken at the meet,” PIB Chandigarh tweeted.
The Council is slated to discuss an array of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks in some items and relaxed registration norms for small online suppliers.
Further, the Council will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, discussing a report of a GoM on high-risk taxpayers under GST to curb evasion.
The GST Council would also consider a report of the panel of state ministers on making e-way bill mandatory for intra-state movement of gold/ precious stones worth Rs 2 lakh and above and e-invoicing mandatory for all taxpayers supplying gold/precious stones and having annual aggregate turnover above Rs 20 crore.
Besides, an interim report of a group of ministers on rate rationalisation, which is likely to suggest correcting the inverted duty structure and removing some items from exempted list, would also be taken up for consideration.
(With inputs from agencies)
“The meeting is being chaired by hon’ble union minister of finance @nsitharaman and many important decisions are expected to be taken at the meet,” PIB Chandigarh tweeted.
The Council is slated to discuss an array of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks in some items and relaxed registration norms for small online suppliers.
Further, the Council will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, discussing a report of a GoM on high-risk taxpayers under GST to curb evasion.
The GST Council would also consider a report of the panel of state ministers on making e-way bill mandatory for intra-state movement of gold/ precious stones worth Rs 2 lakh and above and e-invoicing mandatory for all taxpayers supplying gold/precious stones and having annual aggregate turnover above Rs 20 crore.
Besides, an interim report of a group of ministers on rate rationalisation, which is likely to suggest correcting the inverted duty structure and removing some items from exempted list, would also be taken up for consideration.
(With inputs from agencies)
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