The 52nd GST Council Meeting was held on 7 October 2023 in New Delhi. The gist of the recommendations made in the aforesaid GST Council meeting is summarised in the ensuing paragraphs.
- Changes in GST rate on ‘Goods’ and ‘Services’
- Levy of GST on Extra Neutral Alcohol (ENA)
- Miscellaneous clarifications to be provided in respect of GST rate on ‘Goods’ and ‘Services’
- Amnesty scheme for filing of appeals
- Levy of GST on personal guarantees (by directors)/corporate guarantees (by, say, a holding company)
- Allowing supplies to SEZ developers/SEZ units on payment of IGST (and subsequently claim refund of such tax)
- Automatic restoration of provisionally attached property after completion of one year
- Clarification pertaining to ‘export of services’ concerning remittances received in Special INR Vostro Account
- Miscellaneous Recommendations
- BDO Comments
Source: BDO India
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