Many important decisions have been taken in the 48th GST Council meeting. Earlier 15 issues were to be discussed but only 8 have been decided. Decisions related to Pan Masala and Gutkha were left out.
GST Council Meeting : The 48th GST Council meeting was chaired by Finance Minister Nirmala Sitharaman on Saturday. As soon as the meeting was over, many major decisions were also taken. During this 8 issues were discussed. However, first 15 issues were to be discussed. But this could not happen. There are still some agenda items to consider. Important decisions were taken from automobile tax to many other sectors.
These changes
The threshold for initiating prosecution has been doubled. Now the limit for starting prosecution has been increased from 1 crore to 2, excluding the fake challan process. Also, some mistakes in the GST Act have been decriminalised. Finance Minister Nirmala Sitharaman said that there has been no change in the tax rules. Apart from this, what is an SUV and issues related to tax applicable to the automobile segment were also discussed during the meeting. The rate of tax on husk of pulses has been reduced from 5% to zero.
Missed these issues
There was no discussion on 7 agendas in the meeting. Earlier issues related to pan-spices and gutkha were to be considered, but due to some reason it could not be done. Revenue Secretary Sanjay Malhotra said that the Cabinet of Ministers, headed by Meghalaya Chief Minister Conrad Sangma, had recently submitted its report on online gaming and casinos a few days back. But till now the report of this group has not been sent to the members of the GST Council. Because of which this issue remains to be discussed.
Tax rate on husk of pulses, including chilka and concentrates, has been reduced from 5% to nil.
– Revenue Secretary Shri Sanjay Malhotra while elaborating on outcomes of 48th GST Council Meeting. pic.twitter.com/PR5tUmTfxN
— NSitharamanOffice (@nsitharamanoffc) December 17, 2022
