{"id":75632,"date":"2023-12-18T17:37:53","date_gmt":"2023-12-18T12:07:53","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?post_type=gst&#038;p=75632"},"modified":"2023-12-18T17:37:56","modified_gmt":"2023-12-18T12:07:56","slug":"timeline-of-gst-explained-vis-a-vis-gst-council-meeting","status":"publish","type":"gst","link":"https:\/\/enterslice.com\/learning\/gst\/timeline-of-gst-explained-vis-a-vis-gst-council-meeting\/","title":{"rendered":"Timeline of GST Explained Vis-\u00c0-Vis GST Council Meeting"},"content":{"rendered":"<p>The launch of GST benefited many stakeholders, namely industry, government, and the consumer, and it turned out to be a win-win situation for the entire nation. GST boosted the economy, made goods and services globally competitive, and even lowered the cost of goods and services. Still, the journey from a tiresome indirect tax regime to a simplified and user-friendly regime took 10 years to ideate, deliberate, formulate, and implement.<\/p>\n\n\n\n<p>It is a tax regime that integrates the central and local governments, forming a single interface for the taxpayers. It is considered one of the biggest experiments in fiscal federalism to keep alive the truest spirit of democracy.<\/p>\n\n\n\n<p>It is a regime where the tax is levied on the supply of goods and services in an integrated manner by way of inter-state supply, i.e. the tax is levied by the federal government but is administered and apportioned jointly by the centre and the state governments.<\/p>\n\n\n\n<p>The introduction of GST is new to India, but historically, the foundation of this tax regime dates back to 1954, and it took India 63 years to introduce this regime.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Timeline of GST<\/h2>\n\n\n\n<p>The timeline of GST traces back to the 20<sup>th<\/sup> century. In 1954, France was the first country in the world to implement <strong>GST law<\/strong><span id=\"easy-footnote-1-75632\" class=\"easy-footnote-margin-adjust\"><\/span><span class=\"easy-footnote\"><a href=\"https:\/\/enterslice.com\/learning\/gst\/timeline-of-gst-explained-vis-a-vis-gst-council-meeting\/#easy-footnote-bottom-1-75632\" title='&lt;a href=\"https:\/\/services.gst.gov.in\/services\/gstlaw\/gstlawlist\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener nofollow\"&gt;https:\/\/services.gst.gov.in\/services\/gstlaw\/gstlawlist&lt;\/a&gt;'><sup>1<\/sup><\/a><\/span>, the reason being to reduce tax evasion. Since then, the timeline of GST has accumulated within the change in the taxation regime of many nations.<\/p>\n\n\n\n<ul>\n<li>The timeline of the GST concept of GST was devised by Maurice Laure, a French economist and a joint Director in the French tax authority. In 1954, he referred to it as &ldquo;taxe sur la valeur&rdquo;, i.e. value. He defined GST\/VAT as a consumption tax payable on the goods and services consumed by persons, business organizations and individuals.<\/li>\n\n\n\n<li>By 1970-80, most of the European countries adopted GST.<\/li>\n\n\n\n<li>Till 2023, around 160 countries have opted for this mode of taxation.<\/li>\n\n\n\n<li>Certain countries have a dual system of GST, including India; Canada first introduced this system.<\/li>\n\n\n\n<li>In a dual GST system, the central and state governments have the power to levy and collect taxes.<\/li>\n\n\n\n<li>New Zealand introduced GST in 1986.<\/li>\n\n\n\n<li>Singapore implemented GST in 1994.<\/li>\n\n\n\n<li>Australia introduced GST on 1<sup>st<\/sup> July 2000.<\/li>\n\n\n\n<li>Malaysia introduced GST in the year 2015.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Comparative Study of Standard GST \/ VAT Rates in India and Other Countries (In Percentage)<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>S.NO.<\/td><td>NAME OF THE COUNTRY<\/td><td>STANDARD GST RATE<\/td><td>REDUCED GST<\/td><\/tr><tr><td>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>India<\/td><td>18<\/td><td>28,12,5<\/td><\/tr><tr><td>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>Australia<\/td><td>10<\/td><td>&ndash;<\/td><\/tr><tr><td>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>Brazil<\/td><td>Intrastate-17to19<\/td><td>Interstate- 7 to 12Import- 18-25<\/td><\/tr><tr><td>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>Canada<\/td><td>5<\/td><td>Standard VAT- 5%<\/td><\/tr><tr><td>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>China<\/td><td>13<\/td><td>9 TO 6<\/td><\/tr><tr><td>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>France<\/td><td>20<\/td><td>10,5.5,2.1<\/td><\/tr><tr><td>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>Germany<\/td><td>19<\/td><td>&ndash;<\/td><\/tr><tr><td>8.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>Indonesia<\/td><td>10<\/td><td>&ndash;<\/td><\/tr><tr><td>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>Japan<\/td><td>10<\/td><td>&ndash;<\/td><\/tr><tr><td>10.&nbsp; &nbsp;<\/td><td>South Korea<\/td><td>10<\/td><td>&ndash;<\/td><\/tr><tr><td>11.&nbsp;&nbsp; &nbsp;<\/td><td>Malaysia<\/td><td>10<\/td><td>6,5<\/td><\/tr><tr><td>12.&nbsp; &nbsp;<\/td><td>Mexico<\/td><td>16<\/td><td>0<\/td><\/tr><tr><td>13.&nbsp; &nbsp;<\/td><td>Netherlands<\/td><td>21<\/td><td>9<\/td><\/tr><tr><td>14.&nbsp; &nbsp;<\/td><td>New Zealand<\/td><td>15<\/td><td>&ndash;<\/td><\/tr><tr><td>15.&nbsp;&nbsp; &nbsp;<\/td><td>Pakistan<\/td><td>18<\/td><td>&ndash;<\/td><\/tr><tr><td>16.&nbsp; &nbsp;<\/td><td>Russia<\/td><td>28<\/td><td>18,12,5,0<\/td><\/tr><tr><td>17.&nbsp;&nbsp; &nbsp;<\/td><td>Singapore<\/td><td>8<\/td><td>&ndash;<\/td><\/tr><tr><td>18.&nbsp; &nbsp;<\/td><td>Switzerland<\/td><td>8<\/td><td>&ndash;<\/td><\/tr><tr><td>19.&nbsp; &nbsp;<\/td><td>Thailand<\/td><td>7<\/td><td>&ndash;<\/td><\/tr><tr><td>20. &nbsp;<\/td><td>UK<\/td><td>20<\/td><td>&ndash;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Relevance &amp; History of Taxes in Indian Economy<\/h2>\n\n\n\n<p>India follows a federal structure of government, which includes both the central and state levels of government, and the basic structure of socialist, secular, and democratic republic stays uncompromised at both levels.<\/p>\n\n\n\n<p>Both governments are responsible for managing the country&rsquo;s developmental needs, and to meet these needs, the primary source of income is tax.<\/p>\n\n\n\n<p>Tax is a contribution that a person makes towards the development of the country, and it is within the power of both state and central government to collect taxes, resulting in the fragmentation of taxes. The centre was responsible for levying tax on the goods at the production or manufacturing stage, whereas the state was empowered to tax goods at the distribution stage. Levying tax on services was the responsibility of the state.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Timeline of GST TILL 1<sup>st<\/sup> July 2017<\/h2>\n\n\n\n<ul>\n<li>Atal Bihari Vajpayee government 2000 suggested adopting <strong><a href=\"https:\/\/enterslice.com\/goods-service-tax-advisory-services\">Goods and Services Tax (GST)<\/a><\/strong>, a unified tax system for all goods and services throughout the country, a stepping stone to the timeline of GST in India.<\/li>\n\n\n\n<li>In the same year, an empowered committee of state finance ministers was established to recommend the reforms needed for sales in the tax regime; this initiative reformed the timeline of GST and aided in establishing synergy between the centre and state relations.<\/li>\n\n\n\n<li>In the year 2002-04, the Fiscal Responsibility and Budget Committee (FRBM) was formed, which recommended the introduction of GST and enriched the timeline of GST.<\/li>\n\n\n\n<li>In 2006, the union finance minister, in his budget speech, announced the introduction of GST On 1<sup>st<\/sup> April 2010.<\/li>\n\n\n\n<li>The empowered committee was tasked with developing a roadmap and structure for <strong><a href=\"https:\/\/enterslice.com\/gst-registration\">GST<\/a><\/strong> based on their experience in designing the state <strong><a href=\"https:\/\/enterslice.com\/learning\/differences-between-vat-and-gst\/\">VAT<\/a><\/strong>.<\/li>\n\n\n\n<li>In November 2009, The representatives of the state and the centre were combined into joint working groups to examine the various aspects of GST and to draw a report about the taxation on services, exemptions, and thresholds. The empowered committee released its first discussion paper (FDP) on the GST based on this discussion.<\/li>\n\n\n\n<li>In 2011, the Constitution (115<sup>th<\/sup> <a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Amendment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;An &amp;quot;amendment&amp;quot; refers to the formal change or correction of a legal document, often involving additions, variations, or deletions to address irregularities or clarify points in an agreement.(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/amendment\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>Amendment<\/a>) Bill was introduced in the parliament, incorporating GST with its relevant provisions in front of a standing committee for detailed examination.<\/li>\n\n\n\n<li>In the year 2014, with the dissolution of the 15<sup>th<\/sup> Lok Sabha, the GST Bill lapsed, directing a need for a fresh constitutional amendment Bill.<\/li>\n\n\n\n<li>In December 2014, Finance Minister Arun Jaitley introduced the 122<sup>nd<\/sup> Amendment Bill in the Parliament.<\/li>\n\n\n\n<li>In May 2015, the constitutional amendment bill was passed in Loksabha.<\/li>\n\n\n\n<li>After it passed in Loksabha, the bill was sent to the Rajya Sabha, where it was referred to a select committee.<\/li>\n\n\n\n<li>In July 2015, the select committee submitted its report suggesting certain amendments, and the Rajya Sabha passed the bill on 3<sup>rd<\/sup> August 2016 and by the Lok Sabha on 8<sup>th<\/sup> August 2016.<\/li>\n\n\n\n<li>The Act was ratified by 50% of the states, after which the Hon&rsquo;ble President gave his assent to the constitutional government bill, which later on became an Act which came into force with effect from 8<sup>th<\/sup> September 2016 vide the constitution (101<sup>st<\/sup> Amendment Act).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Major Recommendations That Led To the Foundation of the GST Act in India-<\/h2>\n\n\n\n<p>From the year 2016 to 17, 16 path-breaking <strong><a href=\"https:\/\/enterslice.com\/learning\/51st-gst-council-meeting-news\/\">GST Council meetings<\/a><\/strong> were held, resulting in the official implementation and contributing to the timeline of the GST Act on 1<sup>st<\/sup> July 2017, a magnificent Act that will shine bright in the history of Indian democracy.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>S.NO.<\/td><td>GST COUNCIL MEETING NO.<\/td><td>Timeline of GST Meeting<\/td><td>RECOMMENDATIONS<\/td><\/tr><tr><td>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>1<sup>st<\/sup>&nbsp;GST Council meeting<\/td><td>22<sup>nd<\/sup>&nbsp;-23<sup>rd<\/sup>&nbsp;September,2016<\/td><td>Roll out GST with effect from 1<sup>st<\/sup>&nbsp;April 2017<\/td><\/tr><tr><td>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>2<sup>nd<\/sup>&nbsp;GST Council meeting<\/td><td>30<sup>th<\/sup>&nbsp;September,2016<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rules were drafted for registration, payment of tax, returns, invoices, refunds, etc.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nominal growth rate of 14% for calculation of compensation amount payable to states.<\/td><\/tr><tr><td>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>4<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>3<sup>rd<\/sup>&nbsp;-4<sup>th<\/sup>&nbsp;November,2016<\/td><td>Tax slabs with four rate structures, i.e. 5%, 12%, 18%&amp;28%.<\/td><\/tr><tr><td>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>9<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>16<sup>th<\/sup>&nbsp;January,2017<\/td><td>Issues surrounding dual control issues, i.e. between centre and state, were resolved with the passing of required guidelines.<\/td><\/tr><tr><td>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>10<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>18<sup>th<\/sup>&nbsp;February, 2017<\/td><td>Need of Draft compensation bill<\/td><\/tr><tr><td>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>11<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>4<sup>th<\/sup>&nbsp;-5<sup>th<\/sup>&nbsp;March,2017<\/td><td>Draft of CGST &amp; IGST bills.<\/td><\/tr><tr><td>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>12<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>16<sup>th<\/sup>&nbsp;March,2017<\/td><td>Draft of SGST &amp; UTGST bills.<\/td><\/tr><tr><td>8.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>13<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>31<sup>st<\/sup>&nbsp;March, 2017<\/td><td>Rules about cancelling registration, return, payment, refund, and invoices are recommended.<\/td><\/tr><tr><td>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>14<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>18<sup>th<\/sup>&nbsp;-19<sup>th<\/sup>&nbsp;May, 2017<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GST rates on goods and services&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GST compensation cess rates.<\/td><\/tr><tr><td>10.&nbsp; &nbsp;<\/td><td>15<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>3<sup>rd<\/sup>&nbsp;June, 2017<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rules on remaining business processes.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GST rollout w.e.f. July, 2017<\/td><\/tr><tr><td>11.&nbsp;&nbsp; &nbsp;<\/td><td>16<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>11<sup>th<\/sup>&nbsp;June, 2017<\/td><td><a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Accounting&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;Accounting is the language of business, serving as the backbone of financial management and decision-making. It involves the systematic recording, analysis, and reporting of financial(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/accounting\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>Accounting<\/a> rules<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>At the stroke of midnight hour on 1<sup>st<\/sup> of July, 2017, the Hon&rsquo;ble President and Prime Minister pressed a symbolic button to signify the launch of GST with which India entered the era of <em>one nation: one tax: one <a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Market&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;A market is a structured environment, either physical or virtual, where buyers and sellers convene to trade goods and services. This trading hub operates based on the principles of supply and(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/market\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>market<\/a><\/em>, golden words of great significance to the timeline of GST in India.<\/p>\n\n\n\n<p>The then finance Minister Shri Arun Jaitley, GST as the biggest and the most ambitious tax reform, and the consensus among various parties was a high point in Indian polity at the time when the world was seeing slow growth and divisiveness and contributed majorly to the Timeline Of GST In India.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Major Recommendations That Led To the Successful Implementation of the GST Act in India-<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>S.NO.<\/td><td>Meeting No.<\/td><td>Timeline of GST Meeting<\/td><td>Recommendations<\/td><\/tr><tr><td>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>21<sup>st<\/sup>&nbsp;&amp; 22<sup>nd<\/sup>&nbsp;GST Council meeting<\/td><td>5<sup>th<\/sup>&nbsp;august &amp; 9<sup>th<\/sup>&nbsp;September,2017<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reduction in GST from 18% to 5% on certain job work and services.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Relief for MSME sector&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GST on works contract services supplied reduced from 18% to 5%<\/td><\/tr><tr><td>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>23<sup>rd<\/sup>&nbsp;GST Council meeting<\/td><td>10<sup>th<\/sup>&nbsp;November, 2017<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pruning of list of 28% rated goods&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GST in restaurant service was reduced from 18% to 5%<\/td><\/tr><tr><td>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>24<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>16<sup>th<\/sup>&nbsp;December, 2017<\/td><td>e-way bill system introduced<\/td><\/tr><tr><td>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>25<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>15<sup>th<\/sup>&nbsp;January,2018<\/td><td>Rationalization of GST rates.GST rates were reduced from 28% to 18% on theme parks, joy rides, etc.<\/td><\/tr><tr><td>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>26<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>10<sup>th<\/sup>&nbsp;March, 2018<\/td><td>E-way bill introduced for intra-state movement of goods in a staggered manner<\/td><\/tr><tr><td>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>28<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>21<sup>st<\/sup>&nbsp;July, 2018<\/td><td>Further pruning of list of Goods attracting 28% GST rate.<\/td><\/tr><tr><td>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>31<sup>st<\/sup>&nbsp;GST Council meeting<\/td><td>22<sup>nd<\/sup>&nbsp;December, 2018<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70:30 Valuation scheme for renewable energy equipment to resolve disputes.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest to be levied on Net Tax liability&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GST rate on cinema tickets above Rs. 100\/- to be reduced from 28% to 18%, and on those up to 100\/- from 18% to 12%<\/td><\/tr><tr><td>8.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>32<sup>nd<\/sup>&nbsp;GST Council meeting<\/td><td>10<sup>th<\/sup>&nbsp;January,2019<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Composition scheme for services&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higher threshold limit for a supplier of goods.<\/td><\/tr><tr><td>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<\/td><td>33<sup>rd<\/sup>&nbsp;GST Council meeting<\/td><td>24<sup>th<\/sup>&nbsp;February, 2019<\/td><td>A special scheme was formulated for the Real Estate sector.<\/td><\/tr><tr><td>10.&nbsp; &nbsp;<\/td><td>35<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>21<sup>st<\/sup>&nbsp;June, 2019<\/td><td>E-Invoicing Introduced<\/td><\/tr><tr><td>11.&nbsp;&nbsp; &nbsp;<\/td><td>37<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>20<sup>th<\/sup>&nbsp;September, 2019<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compliance relief for the MSME sector&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amendments in GST Acts given the creation of new union territories of jammu&amp;Kashmir and Ladakh&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disbursal of return by a single authority&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Filing of annual returns in Form GSTR-9 is optional for taxpayers with aggregate annual turnover up to Rs. 2 crore.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Filing of reconciliation statement in FORM GSTR-9C waived for taxpayers having aggregate annual turnover up to Rs. 5 crore.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GST rate on diamonds reduced from 5% to 1.5%&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructuring of GST rates on hotel accommodation with maximum rate to be reduced from 28% to 18%<\/td><\/tr><tr><td>12.&nbsp; &nbsp;<\/td><td>38<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>18<sup>th<\/sup>&nbsp;December,2019<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amnesty scheme for late fees for delayed filing of returns.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Single uniform GST rate on lottery<\/td><\/tr><tr><td>13.&nbsp; &nbsp;<\/td><td>39<sup>th&nbsp;<\/sup>GST Council meeting<\/td><td>14<sup>th<\/sup>&nbsp;March, 2020<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rationalization of inverted duty structure on certain goods.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Introduction of FORM GSTR-2B&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reduced GST rate on aircraft MRO services to be reduced from 18% to 5% to boost the domestic MRO industry<\/td><\/tr><tr><td>14.&nbsp; &nbsp;<\/td><td>40<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>12<sup>th<\/sup>&nbsp;June, 2020<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amnesty scheme for late fee&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest in filing of returns.<\/td><\/tr><tr><td>15.&nbsp;&nbsp; &nbsp;<\/td><td>42<sup>nd<\/sup>&nbsp;GST Council meeting<\/td><td>5<sup>th<\/sup>&nbsp;&amp; 12<sup>th<\/sup>&nbsp;October,2020<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Features of the return filing process enhanced&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QRMP scheme<\/td><\/tr><tr><td>16.&nbsp; &nbsp;<\/td><td>43<sup>rd<\/sup>&nbsp;GST Council meeting<\/td><td>28<sup>th<\/sup>&nbsp;May, 2021<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rationalization of duty on specified COVID-related Goods.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reconciliation statement in FORM GSTR-9C to be self-certified.<\/td><\/tr><tr><td>17.&nbsp;&nbsp; &nbsp;<\/td><td>44<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>12<sup>th<\/sup>&nbsp;June, 2021<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reduction in GST rates of covid related items<\/td><\/tr><tr><td>18.&nbsp; &nbsp;<\/td><td>45<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>17<sup>th<\/sup>&nbsp;September, 2021<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reduction in GST rates of covid related items&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Special scheme for a supplier of bricks, etc.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarifications related to GST rates on goods.<\/td><\/tr><tr><td>19.&nbsp; &nbsp;<\/td><td>46<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>31<sup>st<\/sup>&nbsp;December, 2021<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferment of revised rate structure in the textile sector<\/td><\/tr><tr><td>20. &nbsp;<\/td><td>47<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>28<sup>th<\/sup>&nbsp;and 29<sup>th<\/sup>&nbsp;June,2022<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rate rationalization to remove inverted duty structure on certain goods and services&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refunds of accumulated ITC are not to be allowed in certain cases.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rate changes on certain goods &amp; services.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarifications on GST rates on certain Goods and services.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certain trade facilitation measures by way of amendment in CGST Rules like change in the formula for calculation of refund in inverted duty cases, further waiver of late fees for delaying filing of GSTR-4, and additional modes for payment of tax.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarifications on certain procedural issues.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certain measures for streamlining compliances in GST.<\/td><\/tr><tr><td>21.&nbsp; &nbsp;<\/td><td>48<sup>th&nbsp;<\/sup>GST Council meeting<\/td><td>17<sup>th<\/sup>&nbsp;December, 2022<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decriminalization of certain offences under section 132&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in the threshold of the amount of tax for prosecution and reduction in the amount of compounding in GST.<\/td><\/tr><tr><td>22. &nbsp;<\/td><td>49<sup>th&nbsp;<\/sup>GST Council meeting<\/td><td>18<sup>th<\/sup>&nbsp;February 2023<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government of India to clear the entire pending balance of GST compensation.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adopted report on GST Appellate Tribunal with certain modifications.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Approved Report on capacity-based taxation and special composition schemes in certain sectors on GST.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in GST rates of &lsquo;rab&rsquo;, i.e. liquid jaggery and pencil sharpener.<\/td><\/tr><tr><td>23. &nbsp;<\/td><td>50<sup>th<\/sup>&nbsp;GST Council meeting<\/td><td>11<sup>th<\/sup>&nbsp;July 2023<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Measures to be adopted for facilitation of trade and to streamline compliance.&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certain amendments were proposed in rules 10A, 21A (2A), 21A (4), 59(6), 9, 25 of the GST Act.<\/td><\/tr><tr><td>24. &nbsp;<\/td><td>51<sup>st<\/sup>&nbsp; GST Council meeting<\/td><td>2<sup>nd<\/sup>&nbsp;August, 2023<\/td><td>&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The taxation landscape on online gaming horse racing and casinos changed to 28% full value.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>The timeline of GST took 18 years of debates and discussions to make GST part of its taxation regime. In these 18 years, several meetings of the GST council were held which discussed the loopholes in the then-existing indirect tax regime, four bills were introduced, a committee was set up to design a Goods and Services Tax model, Kelkar task force was given the responsibility of fiscal and budget management ultimately resulting in a nationwide implementation of a fully integrated GST regime.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">FAQ&rsquo;S<\/h2>\n\n\n<div class=\"saswp-faq-block-section\"><ol style=\"list-style-type:none\"><li style=\"list-style-type: none\"><h3>When was GST first started?<\/h3><p class=\"saswp-faq-answer-text\">France was the first country to introduce GST in the year 1954.<\/p><\/li><li style=\"list-style-type: none\"><h3>When did GST first start?<\/h3><p class=\"saswp-faq-answer-text\">As per the time of GST in the year 1954, France became the first nation to introduce the regime of GST.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who started GST first in India?<\/h3><p class=\"saswp-faq-answer-text\">In the year 2000, the BJP government, headed by Shri Atal Bihari Vajpayee, introduced the concept of GST in India as a stepping stone towards building the timeline of GST.<\/p><\/li><li style=\"list-style-type: none\"><h3>When and who introduced GST?<\/h3><p class=\"saswp-faq-answer-text\">Atal Bihari Vajpayee, who headed the government in the year 2000, introduced GST.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who is called the father of GST?<\/h3><p class=\"saswp-faq-answer-text\">Shri Atal Bihari Vajpayee is called the father of GST in India.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who first started GST?<\/h3><p class=\"saswp-faq-answer-text\">The timeline of GST dates back to the 20th century, but in India, it was the BJP Government in the year 2000, under the guidance of Shri Atal Bihari Vajpayee, who took the initiative to start GST.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who introduced GST first?<\/h3><p class=\"saswp-faq-answer-text\">Atal Bihari Vajpayee government made India aware of the concept of GST, contributing majorly to the timeline of GST.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who is the father of GST?<\/h3><p class=\"saswp-faq-answer-text\">Shri Atal Bihari Vajpayee, former president of India, is the father of GST.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who declared GST in India?<\/h3><p class=\"saswp-faq-answer-text\">Prime Minister Shri Narendra Modi and President Shri Pranab Mukherjee launched GST by a historic midnight session of both houses of parliament convened at the central hall of Parliament on (30 June- 1 July) enriching the timeline of GST and securing the concept.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who is called the father of Indian GST?<\/h3><p class=\"saswp-faq-answer-text\">Shri Atal Bihari Vajpayee, Former Indian Prime minister<\/p><\/li><li style=\"list-style-type: none\"><h3>Who is the father of GST first in the world?<\/h3><p class=\"saswp-faq-answer-text\">Maurice Laure, a French economist and joint director In the French tax authority, led the stepping stone in the timeline of GST worldwide.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who invented GST first in India?<\/h3><p class=\"saswp-faq-answer-text\">Atal Bihari Vajpayee government introduced India to the concept of GST.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who is the first GST chairman?<\/h3><p class=\"saswp-faq-answer-text\">The former Finance Minister was the first chairman of the GST Council.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who introduced GST in India?<\/h3><p class=\"saswp-faq-answer-text\">BJP ruling government headed by Shri Atal Bihari Vajpayee introduced GST in India.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who is the GST father of India?<\/h3><p class=\"saswp-faq-answer-text\">Former Prime &ndash; Minister Late Shri Atal Bihari Vajpayee.<\/p><\/li><li style=\"list-style-type: none\"><h3>Who announced GST?<\/h3><p class=\"saswp-faq-answer-text\">The former finance minister Arun Jaitley announced the GST Act. At midnight of 30th June, a special session of parliament was called to commemorate the occasion of the implementation of GST in India.<\/p><\/li><\/ol><\/div>","protected":false},"excerpt":{"rendered":"<p>The launch of GST benefited many stakeholders, namely industry, government, and the consumer, and it turned out to be a win-win situation for the entire nation. GST boosted the economy, made goods and services globally competitive, and even lowered the cost of goods and services. 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