Finance Minister Nirmala Sitharaman announced that the next meeting of the Goods and Services Tax (GST) Council is tentatively scheduled for mid to late August.
GST Council proposes exemption for specific services offered by Indian Railways to the general public, as well as for intra-railway transactions.
The sale of platform tickets and services such as retiring rooms, waiting rooms, cloakroom facilities, and battery-operated car services are now exempt from GST.
This session aims to address the pending agenda items from today’s meeting.
Today’s GST Council meeting was marked by several key decisions aimed at easing the compliance burden and providing relief to taxpayers.
FM Sitharaman said, “Todays GST Council meeting has taken a lot of decisions on trade facilitation, easing compliance burden and relief to tax payers in terms of compliance easing out.”
Among these, significant measures were taken to facilitate trade and simplify processes for businesses and individuals alike.
The GST Council recommended waiving interest penalties on demand notices issued under Section 73 of the GST Act for fiscal years 2017-18, 2018-19, and 2019-20. This section pertains to cases not involving fraud, suppression, or misstatement. Taxpayers who pay the full tax amount demanded in the notice by March 31, 2025, will benefit from this waiver.
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Bu hikaye The Business Guardian dergisinin June 24, 2024 sayısından alınmıştır.
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