GST Council Meeting Live: FM Announces GST Rate Cut On Fortified Rice Kernels To 5%

55th GST Council Meeting Today Live: Finance Minister Nirmala Sitharaman on Saturday begin press conference to announce the key decision of the 55th GST Council meeting today. The Council on Saturday discussed various issues related to goods and services tax (GST) on Saturday. She announced that the Council has decided to reduce tax rate on fortified rice kernel to 5%.

The Council addressed crucial proposals for rate adjustments spanning luxury goods, aviation turbine fuel (ATF), real estate, and more. The GST Council, chaired by Union Finance Minister Nirmala Sitharaman along with state finance ministers, is the apex decision-making body on indirect taxes.

KEY POINTS:-

Gene therapy now exempt from GST, says Finance Minister Nirmala Sitharaman

No GST would be payable on penal charges levied on borrowers by banks or financial institutions: FM Sitharaman.
Payment aggregators who do less than Rs 2000 payment given exemption: FM

Another decision on fortified rice, Concessional gst on food preparation supplied to weaker sections under govt programmes extended: FM

Gene therapy now exempt from GST, says Finance Minister Nirmala Sitharaman briefing outcome of 55th GST Council meeting.

Reduction in rate of fortified rice kernels to 5% FM 12%: FM

GST Council slashes rate on fortified rice kernels to 5 per cent, says Finance Minister Nirmala Sitharaman.