FM Sitharaman chairs 49th meeting of the GST Council

Union Finance Minister Nirmala Sitharaman presided over the 49th meeting of the Goods and Services Tax (GST) Council on Saturday at Vigyan Bhawan in New Delhi.

According to the finance ministry’s official handle — @FinMinIndia — the Union Finance Minister, Union Minister of State for Finance Pankaj Chaudhary, as well as the finance ministers of states and union territories (with legislature) and senior officers from the Union government and states, attended the meeting. With several officials from the Centre and state governments expected to attend, the council is expected to debate the establishment of appellate tribunals and measures to combat tax evasion in the pan masala and gutkha business.

The much-anticipated Group of Ministers report on online gaming and the GST Appellate Tribunal is unlikely to be submitted during the meeting, according to Central Board of Indirect Taxes and Customs (CBIC) Chairman Vivek Johri.

The GST Council had its 48th meeting via video conference on December 17, 2022.
During its most recent meeting, the GST Council considered decriminalising three sorts of offences, including tampering with substantial evidence. These include impeding or preventing any officer from carrying out his duty, tampering with material evidence on purpose, and failing to provide information. In addition, the GST rate for pulses, husk, and knives was cut from 5% to 0%.

The Goods and Services Tax was implemented in the country on July 1, 2017, and states were guaranteed compensation for any revenue lost as a result of the adoption of GST under the provisions of the GST (Compensation to States) Act, 2017 for a period of five years.