New Delhi: The GST Council on Saturday decided to amend tax rates on items, including student accommodation services and solar cookers, and took a slew of taxpayer-friendly measures, including waiving interest and penalty on demand notices issued in the first three years of Launch of the GST.
Briefing reporters after the 53rd GST Council meeting, Finance Minister Nirmala Sitharaman said the Council recommended implementing biometric-based Aadhaar authentication of registrants across India in a phased manner. This will help in proving the fraudulent registration made to avail input tax credit and evade taxes.
To reduce litigation, the Council decided to set a monetary limit for tax officials to file appeals before the GST Appellate Tribunal, High Court and Supreme Court at Rs 20 lakh, Rs 1 crore and Rs 2 crore respectively. .It also recommended reduction in the pre-deposit amount required to be paid by taxpayers to file appeals under the Goods and Services Tax (GST).
The maximum pre-deposit amount for filing an appeal with the appellate authority has been reduced from Rs 25 million CGST and SGST each to Rs 20 million CGST and SGST each. This will help ease the cash flow and working capital blockage for taxpayers.
"The 53rd GST Council meeting took a number of decisions on trade facilitation, easing the compliance burden and providing relief to taxpayers in terms of facilitating compliance," Sitharaman said. The Minister said the upcoming GST Council meeting GST will be held in August where the Group of Ministers (GoM) on Rationalization of GST Rates under Bihar Deputy Chief Minister Sumant Chaudhary will make a presentation on the status of work and aspects covered by the panel and pending work before the panel.
"What was decided in the Council is that when we meet at the next GST Council meeting, we will begin a discussion on rate rationalization... There will be a presentation by the Government of Mexico regardless of whether the report is a draft... and then the Council "We will start the discussion on rate rationalization in the next meeting in August," Sitharaman said.
The GST Council on Saturday recommended exempting accommodation services of up to Rs 20,000 per person per month from GST. This is subject to the condition that these services are provided for a minimum continuous period of 90 days. "It is mainly meant for students," Sitharaman said. In a taxpayer-friendly move, the Board has decided to waive interest and penalty on demand notices issued under Section 73 of the CGST Act (for cases not involving fraud , deletion or intentional misstatement) for tax years 2017-18, 2018-19 and 2019-20, if the total tax required is paid by March 31, 2025.
The GST, which includes 17 local taxes and fees, was implemented on July 1, 2017.
This has moderated the prices of various products and services used by the masses. According to CBIC data, mobile phones and many household items, including televisions, refrigerators, washing machines and air conditioners, have become cheaper after GST .
It has reduced the burden on household incomes and improved affordability.
The Council also decided to refer the standing committee's recommendation to waive GST on fertilizers and reduce rates on raw materials to the Government of Mexico for rationalization of rates. Currently, GST is levied at 5 per cent on fertilisers, while its raw materials such as sulfuric acid and ammonia face an 18 percent tax.
Additionally, the Tax Collected at Source (TCS) rate for e-commerce suppliers has been reduced from the current 1 percent to 0.5 percent, which will ease the financial burden of suppliers making supplies through the platform. e-commerce.
In addition, the services provided by Indian Railways to the general public, namely, sale of platform tickets, waiting and pick-up room facilities, cloakroom services and battery car services as well as transactions within of railways, would be exempted from GST.The GST Council has prescribed a uniform rate of 12 per cent for all milk cans i.e. steel, iron and aluminium, irrespective of their use.
The Council also recommended a uniform GST rate of 12 per cent on all corrugated and non-corrugated paper or cardboard boxes and boxes, which particularly helps apple growers of Himachal Pradesh and Jammu and Kashmir.
All types of sprinklers, including fire water sprinklers, will attract 12 per cent GST. Solar cookers, whether they have a single or dual energy source, will also be subject to a 12 per cent tax. The Council also decided that the GST anti-profiteering provisions will have an expiry date of April 1, 2025 .The current cases and investigations regarding complaints regarding profiteering will be handled by the apex court of the GST Appellate Tribunal (GSTAT), rather than the Competition Commission. of India (CCI).
Further, the time limit for availing input tax credit w.r.t. any invoice or debit note through any GSTR 3B return filed up to November 30, 2021 for financial years 2017-18, 2018-19, 2019-20 and 2020-21, has been fixed on November 30, 2021.
Sitharaman said that less than two per cent of the total 58.62 lakh taxpayers under the central administration of GST have been issued tax notices and the government's intention is to make the lives of GST assessors easier by reducing the requirements of compliance."I want to assure the assessees that our intention is to make life easier for the GST assessees, we are working towards less and less compliance. On behalf of CGST, notifications are not sent left and right. Only 1.96 per cent of all active tax assessees have received notices from the central GST,” Sitharaman said.
Briefing reporters after the 53rd GST Council meeting, Finance Minister Nirmala Sitharaman said the Council recommended implementing biometric-based Aadhaar authentication of registrants across India in a phased manner. This will help in proving the fraudulent registration made to avail input tax credit and evade taxes.
To reduce litigation, the Council decided to set a monetary limit for tax officials to file appeals before the GST Appellate Tribunal, High Court and Supreme Court at Rs 20 lakh, Rs 1 crore and Rs 2 crore respectively. .It also recommended reduction in the pre-deposit amount required to be paid by taxpayers to file appeals under the Goods and Services Tax (GST).
The maximum pre-deposit amount for filing an appeal with the appellate authority has been reduced from Rs 25 million CGST and SGST each to Rs 20 million CGST and SGST each. This will help ease the cash flow and working capital blockage for taxpayers.
"The 53rd GST Council meeting took a number of decisions on trade facilitation, easing the compliance burden and providing relief to taxpayers in terms of facilitating compliance," Sitharaman said. The Minister said the upcoming GST Council meeting GST will be held in August where the Group of Ministers (GoM) on Rationalization of GST Rates under Bihar Deputy Chief Minister Sumant Chaudhary will make a presentation on the status of work and aspects covered by the panel and pending work before the panel.
"What was decided in the Council is that when we meet at the next GST Council meeting, we will begin a discussion on rate rationalization... There will be a presentation by the Government of Mexico regardless of whether the report is a draft... and then the Council "We will start the discussion on rate rationalization in the next meeting in August," Sitharaman said.
The GST Council on Saturday recommended exempting accommodation services of up to Rs 20,000 per person per month from GST. This is subject to the condition that these services are provided for a minimum continuous period of 90 days. "It is mainly meant for students," Sitharaman said. In a taxpayer-friendly move, the Board has decided to waive interest and penalty on demand notices issued under Section 73 of the CGST Act (for cases not involving fraud , deletion or intentional misstatement) for tax years 2017-18, 2018-19 and 2019-20, if the total tax required is paid by March 31, 2025.
The GST, which includes 17 local taxes and fees, was implemented on July 1, 2017.
This has moderated the prices of various products and services used by the masses. According to CBIC data, mobile phones and many household items, including televisions, refrigerators, washing machines and air conditioners, have become cheaper after GST .
It has reduced the burden on household incomes and improved affordability.
The Council also decided to refer the standing committee's recommendation to waive GST on fertilizers and reduce rates on raw materials to the Government of Mexico for rationalization of rates. Currently, GST is levied at 5 per cent on fertilisers, while its raw materials such as sulfuric acid and ammonia face an 18 percent tax.
Additionally, the Tax Collected at Source (TCS) rate for e-commerce suppliers has been reduced from the current 1 percent to 0.5 percent, which will ease the financial burden of suppliers making supplies through the platform. e-commerce.
In addition, the services provided by Indian Railways to the general public, namely, sale of platform tickets, waiting and pick-up room facilities, cloakroom services and battery car services as well as transactions within of railways, would be exempted from GST.The GST Council has prescribed a uniform rate of 12 per cent for all milk cans i.e. steel, iron and aluminium, irrespective of their use.
The Council also recommended a uniform GST rate of 12 per cent on all corrugated and non-corrugated paper or cardboard boxes and boxes, which particularly helps apple growers of Himachal Pradesh and Jammu and Kashmir.
All types of sprinklers, including fire water sprinklers, will attract 12 per cent GST. Solar cookers, whether they have a single or dual energy source, will also be subject to a 12 per cent tax. The Council also decided that the GST anti-profiteering provisions will have an expiry date of April 1, 2025 .The current cases and investigations regarding complaints regarding profiteering will be handled by the apex court of the GST Appellate Tribunal (GSTAT), rather than the Competition Commission. of India (CCI).
Further, the time limit for availing input tax credit w.r.t. any invoice or debit note through any GSTR 3B return filed up to November 30, 2021 for financial years 2017-18, 2018-19, 2019-20 and 2020-21, has been fixed on November 30, 2021.
Sitharaman said that less than two per cent of the total 58.62 lakh taxpayers under the central administration of GST have been issued tax notices and the government's intention is to make the lives of GST assessors easier by reducing the requirements of compliance."I want to assure the assessees that our intention is to make life easier for the GST assessees, we are working towards less and less compliance. On behalf of CGST, notifications are not sent left and right. Only 1.96 per cent of all active tax assessees have received notices from the central GST,” Sitharaman said.
