Union Finance Minister Nirmala Sitharaman on Saturday chaired the 49th meeting of the Goods and Services Tax (GST) Council, in Vigyan Bhawan, New Delhi.
The Union Finance Minister, Union Minister of State for Finance Pankaj Chaudhary, besides the finance ministers of states and Union Territories (with legislature) and senior officers from the Union government and states, attended the meeting, according to the finance ministry's official handle -@FinMinIndia.
Several representatives from the federal government and state governments are expected to attend the conference, therefore it is expected that the council will debate creating procedures to prevent tax evasion in the pan masala and gutkha businesses as well as appellate tribunals.
According to Vivek Johri, chairman of the Central Board of Indirect Taxes and Customs (CBIC), it is unlikely that the much anticipated report of the Group of Ministers on online gaming and the GST appeal tribunal will be presented at the meeting.
At the last meeting
The 48th Meeting of the GST Council was held on December 17, 2022, through video conference.
The GST Council has suggested decriminalising three separate offences, including tampering with tangible evidence, during their most recent meeting.
They deal with blocking or stopping an officer from carrying out his responsibilities, purposeful tampering with tangible evidence, and withholding information.
Moreover, GST rates on the husk from pulses and knives were lowered from 5% to 0%.
With effect from July 1, 2017, the country implemented the Goods and Services Tax, and under the terms of the GST (Compensation to States) Act of 2017 states were guaranteed compensation for any revenue losses resulting from the adoption of GST for a five-year period.
With inputs from Agencies.
