Goods and Services Tax Council (GSTC, in short) met for its 45th GST Council meeting in physical form on 17th September at Lucknow (UP). This was the first meeting held physically after a gap of seventeen months, thanks to Covid pandemic.
The GSTC considered various issues and concerns confronting GST law, administration, compliance etc and recommendations or decisions inter alia, include :
- Streamlining GST compliances
- Relaxations in various filings
- Clarifications on issues such as ITC, inverted duty structure, exports, intermediary, e-invoices, debit notes and so on.
- Rationalization of GST rates
- New exemptions
- New taxation objects
- Compensation cess
- Mandatory aaddhar authentications etc
- Sector specific recommendation such as education, hospitality (including hotels, restaurants, supply of food etc), textiles, footwear, BPO, automobiles, food processing, health care, inclusion of petroleum products into GST etc.
Source Taxguru
