VATupdate
VAT news

Share this post on

GST Council Tweaks Tax Rates, Waives Interest and Penalty for First 3 Years of Rollout

  • GST Council tweaks tax rates, including accommodation services for students and solar cookers
  • Waiver of interest and penalty for demand notices issued in the first three years of GST rollout
  • Biometric-based Aadhaar authentication of registration applicants recommended
  • Monetary limit set for tax officers to file appeals before GST Appellate Tribunal, High Court, and Supreme Court
  • Reduction in pre-deposit required for filing appeals under GST
  • Next GST Council meeting in August to discuss rate rationalization
  • Exemption of Accommodation Services up to Rs 20,000 per person per month from GST
  • Waiver of interest and penalties for demand notices issued under Section 73 of the CGST Act
  • GST rolled out on July 1, 2017, leading to moderation in prices of various products and services
  • Referral of recommendation to exempt GST on fertiliser and cut rates on raw materials to GoM on rate rationalization.

Source: kashmirreader.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

Sponsors:

Pincvision

Advertisements:

  • VATAi