GST purview widens further
The GST Council on Tuesday approved changes in tax rates on some goods and services, while allowing States to issue an e-Way bill for intra-state movement of gold and precious stones, officials said.
image for illustrative purpose
Easing Norms
- Karnataka CM led Group of State FMs
- Council accepted interim report by FMs
New Delhi: The GST Council on Tuesday approved changes in tax rates on some goods and services, while allowing States to issue an e-Way bill for intra-state movement of gold and precious stones, officials said.
The Council, chaired by Finance Minister Nirmala Sitharaman and comprising state counterparts, also cleared a host of compliance procedures for GST-registered businesses along with a GoM report on high-risk tax payers to check evasion.
The discussion on the crucial issues of extension of compensation to States beyond June 2022 and the imposition of 28 per cent GST on casinos, online gaming and horse racing, will take place on Wednesday.
Opposition-ruled states have been pressing for either extension of the GST compensation regime or increasing States' share in revenue from the current 50 per cent. In the meeting on Tuesday, the Council accepted the interim report of the Group of State Finance Ministers, headed by Karnataka Chief Minister Basavaraj S Bommai, on rate rationalisation, including correction of inverted duty structure and removing tax exemption on some items, to simplify the rate structure.
