GST Council: GST Council meeting ends, these cases related to GST laws were removed from the category of crime
The 48th meeting of the GST Council is over. Finance Minister Nirmala Sitharaman chaired the meeting through virtual medium.
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Union Finance Minister Nirmala Sitharaman chaired the 48th GST Council meeting through virtual mode in Delhi. After the meeting, Finance Minister Nirmala Sitharaman said that 8 points of the agenda were completed during the GST Council meeting. The GoM had two issues that needed to be discussed but could not be considered, namely capacity-based taxation on tobacco and gutkha and setting up of GST tribunals.
# Threshold for initiating prosecution increased from Rs 1 crore to Rs 2 crore
Decriminalization of certain cases including prevention of discharge of duties and raising the threshold limit for initiation of prosecution in any case under GST laws from Rs.1 crore to Rs.2 crore (except fake invoices) etc. After the GST Council meeting, the Revenue Secretary said that the rate of tax on husk of pulses has been reduced from 5 percent to nil. In the meeting, ethanol blending with petrol has been allowed for refineries at a concessional rate of 5%. Raising of threshold limit from Rs.1 crore to Rs.2 crore (except fake challans) etc. After the GST Council meeting, the Revenue Secretary said that the rate of tax on husk of pulses has been reduced from 5 percent to nil. In the meeting, ethanol blending with petrol has been allowed for refineries at a concessional rate of 5%. Raising of threshold limit from Rs.1 crore to Rs.2 crore (except fake challans) etc. After the GST Council meeting, the Revenue Secretary said that the rate of tax on husk of pulses has been reduced from 5 percent to nil. In the meeting, ethanol blending with petrol has been allowed for refineries at a concessional rate of 5%.
Decriminalization of offenses under the GST law during the GST Council meeting that began on SaturdayEstablishment of appellate tribunals and creating a mechanism to check tax evasion in pan masala and gutkha business were discussed.
can go. The Group of Ministers (GoM), constituted last year on the issue under the chairmanship of Meghalaya Chief Minister Conrad Sangma, submitted its report to Finance Minister Nirmala Sitharaman on Thursday.
Ahead of the meeting, there were speculations that clarity on rate applicability to certain goods and services would be given during the meeting. finance
The Law Committee of the GST Council had suggested increasing the monetary limit for initiating prosecution.
Legal Committee of the GST Council regarding decriminalization of offenses under GST laws,The Council, comprising tax officers from the Center and states, had suggested raising the monetary threshold for initiating prosecution for GST offences.
percent should be reduced. It is currently up to 150 per cent. The committee has said this with a view to improve the ease of doing business.
Was. With regard to setting up of Goods and Services Tax Appellate Tribunals (GSTATs), the GoM has suggested that the tribunals have a retired Supreme Court judge as chairperson, apart from two judicial members and one technical member each from the Center and states, according to sources. should be included. The GoM on GSTATS was constituted in July under the chairmanship of Haryana Deputy Chief Minister Dushyant Chautala.