GST Council Meeting: The 55th meeting of GST Council has been completed in Jaisalmer, Rajasthan. Many important decisions were taken in this meeting. Finance Minister Nirmala Sitharaman is telling how much GST has increased and decreased on which items. The Finance Minister said that the GST Council has reduced the rate on fortified rice kernels to 5%. Apart from this, regarding GST on food delivery app, the Finance Minister said that it has been postponed for the time being. He said that whether GST should be imposed separately on delivery charges and food has also been discussed.
Big news for small companies
Apart from this, Finance Minister Sitharaman said that the GST Council has given in-principle approval to the concept note for bringing amendments in GST for the new registration system. So that it becomes easier for small companies to avail low input tax credit.
Said this about popcorn
Regarding popcorn, the Finance Minister said, “Salted, caramelized, plain popcorn is being sold as namkeen in some states. Caramelized popcorn contains added sugar, hence is taxed at a different rate than namkeen. Even if it is carbonated Be it drinks or juice, anything with added sugar is subject to a different tax rate. Since caramelized popcorn contains added sugar, it has a different tax rate. Is.”
big thing said on EV
Finance Minister Sitharaman said that there is 5% GST on new EV vehicles. There is no GST on old EV cars when they are sold between individuals. But if a company sells old EV, petrol, diesel vehicles, then the Council has increased the GST rate on margin to 18%.
No decision on floor space index
There was a discussion on whether GST on floor space index should be reverse charged or forward charged, but no decision was taken on this. The Finance Minister said that it is believed that land is a state subject and this will also affect the revenue of the municipality.
These people attended the GST Council meeting
Many big faces were present in this 55th meeting of GST Council. In these, along with Finance Minister Nirmala Sitharaman, Minister of State for Finance Pankaj Choudhary, Chief Ministers of Jammu and Kashmir, Goa, Haryana Odisha, Meghalaya and Deputy Chief Ministers of Arunachal Pradesh, Bihar, Madhya Pradesh, Telangana participated. Apart from this, Finance Ministers of many states, Revenue Secretaries and Chairman of CBIC were also present in this meeting. At the same time, many senior officials of the Finance Ministry also participated in this meeting.
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