Nirmala Sitharaman chairs forty eighth GST Council assembly; no tax enhance on any merchandise

New Delhi: Union finance minister Nirmala Sitharaman on Saturday chaired the forty eighth assembly of the GST Council.

“Union Finance Minister Smt. @nsitharaman chairs the forty eighth assembly of the GST Council by way of digital mode, in New Delhi, at this time. Together with the FM, Union Minister of State for Finance Shri @mppchaudhary, moreover Finance Ministers of States & UTs (with legislature) and Senior officers from Union Authorities & States are additionally attending the assembly,” Ministry of Finance tweeted.

The forty eighth @GST_Council met below Chairmanship of Union FM Smt. @nsitharaman and really helpful:

👉 decriminalising sure offences u/s 132
👉 enhance in threshold of quantity of tax for prosecution
👉 discount in quantity of compounding in GST

Learn extra ➡️ https://t.co/LfsEVDwaqh pic.twitter.com/JlyrFU7WxL

— Ministry of Finance (@FinMinIndia) December 17, 2022

#GST कानूनों के तहत किसी भी आपराधिक अपराध में अभियोजन शुरू करने के लिए कर राशि की सीमा, नकली चालान को छोड़कर सभी अपराधों के लिए 1 करोड़ रुपये से बढ़ाकर 2 करोड़ की गई: 48वीं #GSTCouncil बैठक के बाद प्रेस को संबोधित करते राजस्व सचिव@FinMinIndia pic.twitter.com/IH846CHXEb

— पीआईबी हिंदी (@PIBHindi) December 17, 2022

Sitharman mentioned that throughout the assembly eight of the agenda factors of the forty eighth GST council assembly have been mentioned and the remaining could be carried on to the following assembly. “In sequential order seven agenda factors have been attended with a further one associated to information sharing was additionally taken up,” the finance minister mentioned.

“On this forty eighth GST Council Assembly, there hasn’t been any tax enhance on any merchandise. No new taxation has been introduced in. Every little thing that has been performed is to challenge clarifications the place ambiguity of interpretations prevailed, “Sitharaman mentioned on the conclusion of the assembly.

The forty seventh assembly of the GST Council was held in late June 2022, in Chandigarh.

After the suggestions that have been taken up within the two-day forty seventh GST Council assembly in Chandigarh in June, the Items and Companies Tax (GST) was rationalised for quite a few gadgets together with LED lamps, photo voltaic water heaters, amongst different gadgets.

The speed modifications really helpful by the GST Council grew to become efficient on July 18 this 12 months.