Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
The President formed the GST Council in compliance with Article 279A (1) of the amended Constitution. The GST Appellate Tribunal, compensating cess, exemptions, revisions to GST rates, and rates for goods and services were among the five main issues on which this Council made significant decisions. The 50th Meeting of the GST Council was held in Vigyan Bhawan in New Delhi on July 11 and July 11, 2023. The President of the Central Board of Indirect Taxes and Customs (CBIC) and the Revenue Secretary both spoke at the Meeting, which was presided over by Union Finance Minister Nirmala Sitharaman.
The Council recommends introducing rule 138F to the CGST Rules, 2017 and SGST Rules, 2017, on the requirement of E-way bills for the transportation of gold and precious stones classified under Chapter 71. This will be applicable to states that decide to mandate the creation of e-way bills for the intrastate transportation of these particular commodities.
To strengthen the registration procedure and to deal with fraudulent and fake registrations, the following amendments are recommended:
Significant tax problems were discussed at the 50th GST Council meeting. The GSTN was included in the Prevention of Money Laundering Act, GST Appellate Tribunals, Reduced taxes on animated apple shows, taxation of refreshments in theatres, and the introduction of a 22% tax on multi-vehicles were all important topics of discussion. The discussion focused on improving the GST registration procedures, streamlining various GST rates, and looking into business claims for excessive input tax credits.
The 50th GST Council meeting was held in New Delhi.
In the GST council meeting, all the important decisions related to GST rate changes, filing dates, due dates, and change in any deadlines or amendments are taken.
The GST council sits together and discusses and approves all the important changes that are to be taken.
The main objective of the GST council is to take decisions in regard to matters relating to the rate of GST taxes, important timelines of the tax filing etc.
The 50th GST Council meeting is being held at Vigyan Bhawan in New Delhi.
The latest GST council meeting was held on August 2 August 2 2023.
The insurance industry is on the edge of a transformative era. As we enter 2024, technological...
The Indian Cybercrime Coordination Centre reported a rise in digital financial fraud, which has...
During its 203rd meeting on 25th November 2023, the Securities and Exchange Board of India (SEB...
If you want to expand your portfolio beyond standard stocks and bonds, Alternative Investment F...
NBFCs in India encounter significant challenges related to the compounded effects of outstandin...
Are you human?: 4 + 7 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
The effective implementation of the new indirect taxation law i.e. GST requires stringent action against the offend...
20 Nov, 2020
India is the primary producer for generics, and its Pharmaceutical Industry at present is the third-largest in the...
18 Feb, 2021