PM Modi speaks to King Charles III of UK
Prime Minister Narendra Modi on Thursday spoke with King Charles III of the United Kingdom.
The GST Council, chaired by Finance Minister Nirmala Sitharaman is set to meet on September 9, the Council said on Tuesday.
In a post on social media platform X, the Council said, “The 54th Meeting of GST Council will be held on 9th September, 2024 at New Delhi.”
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As per the reports, the council is likely to discuss rate rationalisation, compliance measures, ITC reforms, among others.
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Notably the 53rd meeting was held on June 22, 2024 where the GST Council announced various recommendations relating to taxation, ITC claims and demand notices.
It also recommended a uniform rate of 12% on all milk cans, waiver of interest on penalties on tax demand notice among other measures.
At the last meet, the Council had recommended waiving interest and penalties for demand notices under the CGST Act, monetary limit of Rs. 20 lakh for GST Appellate Tribunal, Rs. 1 crore for High Court and Rs. 2 crore for Supreme Court, for filing of appeals by the Department, among several other recommendations.
After the previous Council meeting, the Finance Minister had said the next meeting of the GST Council the Group of Ministers (GoM) on rate rationalisation under Bihar Deputy Chief Minister Sumant Chaudhary, will give a presentation on the status of the work and aspects covered by the panel and work pending before the panel.
Sitharaman had said on the floor of the House that the issue of GST on health and life insurance premiums will be decided by the GST Council alone, and the matter should be left to the Council, now that all stakeholders have been heard of this.
The GST Council, which comprises of finance ministers of Centre and states, is the apex decision making body with regard to Goods and Services Tax(GST). The tax was rolled out on July 1, in 2017.
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