9911796707
TMI BlogRecommendations of 53rd GST Council Meeting held on 22.06.2024presided by Hon’ble Finance Minister Nirmala SitharamanX X X X Extracts X X X X X X X X Extracts X X X X ..... Recommendations of 53rd GST Council Meeting held on 22.06.2024presided by Hon’ble Finance Minister Nirmala Sitharaman X X X X Extracts X X X X X X X X Extracts X X X X ..... xpected to be held in middle of August 3. Many items on Easing Tax Compliances 4. Waiver of interest and penalties on demand notices u/s 73 (cases not involving fraud) for FY 17-18, 18-19 & 19-20. Applicable in cases where demand Paid by 31.3.2025. 5. ITC u/s 16(4) relief - 30/11/2021 becomes the new time limit for ITC pertaining to FY 17-18, 18-19 & 19-20. 6. In Order to reduce Govt litigatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, appeal shall not be filed by the GST Department, in case the demand does not exceeds the followings: A. Rs.20L for GSTAT B. Rs.1 Cr for High Court C. Rs.2 Cr for Supreme Court 7. Maximum amt of pre-deposit for filing appeal shall be reduced from Rs.50 Crores (CGST+SGST) to 40 Crores (CGST+SGST) 8. Pre-deposit for filing appeal before GSTAT reduced from 20% to 10% and pre-deposit for fil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing appeal shall be reduced to Rs. 40 Crs (C+S) 9. 3 month period for filing appeal before GSTAT shall start from a day which will be notified 10. GSTR-4 (Rerun for Composition taxpayers) time limit for filing extended from 30th April to 30th June - FY 2024-25 onwards. 11. No interest on Cash Ledger balances available at the time of Debit -Retrospective eƯect. 12. New functionality introd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uced in Form GSTR-1A which shall be available to add any particulars missed in GSTR-1 before filing GSTR-3B. 13. All India Bio-metric based Aadhar authentication on all India basis - to combat fake ITC. 14. Clarifications issued by fitment committee A. Uniform rate of 12% on all milk cans (steel, plastic,etc) irrrespective of use B. Uniform rate of 12% on all carton boxes and cases of corrug ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated and non-corrugated paper. Will benefit apple growers of HP & JK. C. All types of sprinklers including fire-water sprinklers D. Solar Cookers - 12% - whether it has single or dual energy sores E. Services by Indian railway to common man - platform ticket, waiting rooms, etc are exempted. F. Services by way of Hostel accommodation outside an educational institute having charges of Rs. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0,000 per month per person, provided it is continuously occupied for 90 days are now made exempt.
15. Rate rationalisation - Charge to Dy CM of Bihar - Mr Samrat Chaudhary X X X X Extracts X X X X X X X X Extracts X X X X
|
