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GST Council News

15 Sep 2024

GST Council Forms GoM To Review Tax Rate On Health, Life Insurance

The 54th GST Council meeting on September 9 decided to set up a GoM to examine and review the present tax structure of GST on life and medical insurance.

10 Sep 2024

What Has Become Cheaper And What Has Become Expensive After GST Council Meet

Over the years, GST has, among others, simplified compliance and reduced the cascading impact of tax.

10 Sep 2024

Will GST On Health, Life Insurance Premiums Be Reduced? Decision In Nov

Currently, 18 per cent GST is levied on health and life insurance premiums.

09 Sep 2024

18% GST On Rs 2,000 Transaction: Payment Aggregators Rue Lack Of Clarity

Reports suggest that if GST is applied retrospectively, payment aggregators may issue legal notices to millions of merchants nationwide to recover the tax.

08 Oct 2023

GST Amnesty Scheme: Big Relief For Taxpayers At 52nd GST Council Meet - Check

In its meeting on Saturday, the 52nd GST Council extended the deadline for GST-registered enterprises to file appeals with an increased pre-deposit of 12.5 percent of the tax demand.

03 Aug 2023

Taxing GST On Deposits Will Wipe Out 80% Of Online Gaming Industry

The GST Council has also decided to review the decisions on the rate of tax and valuation after six months of implementation of the amendments, giving some hope to the industry.

02 Aug 2023

28% GST On Online Gaming Stays; To Be Reviewed After 6 Months Of Roll-Out

The panel had at its last meeting decided to levy a 28 percent GST on the full face value of bets placed and Wednesday's meeting was to deliberate on the tax law changes that would be required to implement it.

12 Jul 2023

SUVs To Get Expensive; GST Council Proposes New Cess Slabs - Check Here

The GST council has set new rules to identify SUVs, and the body style will now attract more taxes as the councils sets new cess slabs.

12 Jul 2023

GST Waived Off On Cancer Treatment Drugs, Special Medicines

Addressing a press conference after the marathon eight-hours-long meeting, Sitharaman said that tax exemption has also been extended to satellite launch services provided by private parties.

11 Jul 2023

GST Council Meet Today: To Take Call On Taxing MUV, Horse Racing, Online Game

Setting up of a GST Tribunal and framing of their rules may also be taken up for discussion during the meeting.

10 Jul 2023

GST Council Likely To Discuss Taxation Under ONDC During Meeting Tomorrow

Under ONDC, a buyer places an order with an e-commerce platform, which itself procures that consignment from another e-commerce platform.

Goods and Services Tax

16 Jun 2023

GST Council Meet On July 11, Likely To Discuss Steps To Prevent THIS

Chairman of Central Board of Indirect Taxes and Customs (CBIC), Vivek Johri said this while speaking to reporters at the sidelines of an event.

04 Feb 2023

GST Council to Meet on February 18; Check Top Agenda Here

The meeting is scheduled to be held in New Delhi on Feb 18. This is the 49th meeting of the GST council. The 48th GST Council meeting was held on December 17, 2022.

16 Dec 2022

GST Council to meet tomorrow --Check the agenda of meeting

The rate changes recommended by the GST Council had become effective on July 18, 2022.

Goods and Services Tax

07 Jul 2022

GST on Hospital Admission: Gst's whip on medical services, 5% tax on bed rent

Responding to the representations of the industry, revenue secretary Tarun Bajaj also rejected the demand for zero-rating for healthcare industry saying such "carve-outs" may generate similar demands from other sectors, like education, and put upward pressure on taxation of other items in the GST net.

04 Jul 2022

Highest 28% GST on luxury, sin goods to continue: Revenue Secy

Addressing the industry leaders, Bajaj said the rate rationalisation exercise of the GST Council is a result of introspection of GST, five years after its rollout, and the policymakers do not have a "fetish" to raise the tax rates to the revenue-neutral level of 15.5 per cent.

10 May 2022

Crypto investors alert! GST Council mulling 28% tax on Bitcoin, others

Next GST meeting date yet to be finalised. 30% tax on profits made from the transfer of crypto assets, NFTs. India distinguishes between cryptocurrencies and crypto assets.

29 Apr 2022

GST on online gaming, horse racing, fantasy games: Council to take final call

Speaking to reporters ahead of the GoM in the national capital on May 2, Godinho, the state's representative to the Council, also said that after the recommendations made by the GoM, the GST council would take a final call on the taxation policy for the three services.

17 Apr 2022

GST Council may do away with 5% rate; move items to 3% & 8% slabs

As per calculations, every 1 per cent increase in the 5 per cent slab, would roughly yield additional revenue of Rs 50,000 crore annually. Under GST, essential items are either exempted or taxed at the lowest rate. Luxury and demerit items attract the highest tax.

07 Mar 2022

GST Council may consider proposal to raise lowest slab to 8%, rationalise tax

Panel to submit its by month end. GST tax rate at 5, 12, 18 and 28 percent. Essential items are either exempted or taxed at the lowest slab.

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