2024-06-30 10:30:02
Union Finance Minister Nirmala Sitharaman at the end of the 53rd meeting of the GST Council said the body has decided to impose uniform GST rate of 12 percent on all carton boxes from 18 percent. The move is aimed to help apple growers of Himanchal Pradesh, Jammu and Kashmir.
Business Today was first to report that the GST Council is likely to reduce GST rates on carton boxes for packaging apples on July 18.
The Union finance minister also said that the GST Council decided to impose uniform GST rate of 12 percent on all milk cans (steel, aluminium) from the 18 percent at present.
Sitharaman said that the group of ministers (GoM) on rate rationalisation will start discussions on rate rationalisation, and the committee will share report on progress in the next meeting.
Other highlights of the meeting are:
> GST Council recommends insertion of functionality, by a form – GSTR-1A to add particulars of the current tax period in case it was missed in reporting
> To reduce govt litigation, a monetary limit has been recommended of Rs 20 lakh for GST Appellate Tribunal: FM Sitharaman
> Council recommends insertion of a functionality, by a form – GSTR-1A to add particulars of current tax period in case it was missed in reporting
> New monetary limits are Rs 20 lakh for GST appelletes, Rs 1 crore for High Court and Rs 2 crore for Supreme Court
> All types of sprinklers, including fire sprinklers will attract 12% rate.
> All solar cookers will attract 12% GST rate.
> Services provided by railways like battery operated vehicles, intra-railway services being exempt from GST.
The GST Council meeting was attended by the Union Finance Minister, Chief Ministers of Goa and Meghalaya; Deputy Chief Ministers of Bihar, Haryana, Madhya Pradesh, and Odisha; besides Finance Ministers of States & UTs (with legislature) and Senior officers from Union Government & States are also attending the meeting.
