GST Council set to meet on September 9 to discuss key issues
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.”
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.”
Waiver is applicable for demand notices issued under Section 73 of the CGST Act for the fiscal years 2017-18, 2018-19 and 2019-20, in cases where the taxpayer pays the full amount of tax demanded in the notice upto 31.03.2025, the Council said.
Food preparations in powder form containing at least 70 per cent millets will not have to pay any GST, Finance Minister Nirmala Sitharaman said.
Law Committee will examine suitable amendment in law to exclude ENA for use in manufacture of alcoholic liquors for human consumption from ambit of GST.
GST council is likely to give clarity on whether tax collected at source (TCS) should be deducted by the buyer or the e-commerce platform
Participating in the 40th GST Council meeting held under the Chairmanship of Union Finance Minister and Chairman GST Council, Nirmala Sitharaman through video conference, he thanked the Union government for having provided liberal support to the state.
For people who have tax liability, the maximum late fee for non-filing of GSTR-3B returns for period July 2017 and January 2020 has been capped to Rs 500 without interest.
Several state finance ministers through a video conference have already discussed the post-Covid economic situation and underlined the need for some form of aid especially for the MSME (micro, small and medium enterprises) sector which was hit hard by the pandemic and the subsequent lockdowns.
The meeting would discuss the impact of the pandemic on revenues of the Centre and states and ways to bridge the revenue gap, sources said.
Sitharaman also said that there is nowhere in the world do the prices of petrol and diesel remain steady for a particular period of time.
