Union Finance Minister Nirmala Sitharaman, at the GST Council on Saturday lowered the Goods and Service Tax on liquid jaggery, pencil sharpeners, and specific tracking devices.
Following the 49th GST Council meeting, the minister briefed the media and also announced that the GoM (Group of Ministers) reports on preventing tax evasion by the pan masala and gutkha industries as well as on the Goods and Services Tax Appellate Tribunals (GSTATs) had been taken into consideration.
She added that all GST compensation debts, including the Rs 16,982 crore due for the month of June, would be paid in full.
The GST Council has resolved to rationalise late fines for filing yearly Tax reports after the deadline, the finance minister added.
Senior officials from the Union Government and the states, as well as the finance ministers of the states and UTs (with the legislature), attended the meeting.
With inputs from Agencies.
