Next GST Council Meeting on September 9: Key issues the apex body will discuss, and all you need to know

The Goods and Services Tax (GST) council meeting will be held in New Delhi on September 9, 2024.

“The 54th Meeting of GST Council will be held on 9th September, 2024, at New Delhi,” said the council posted on the social media platform X. The meeting is expected to start discussion on rate rationalisation, reducing tax slabs, besides removing duty inversion under GST, PTI reported.

As mentioned by Sitharaman in her earlier meeting, this year's discussions will start with rate rationalization issue.

GST council previous meeting

The Goods and Services Tax Council had held its previous meeting on June 23, where the finance minister had announced that the next meeting would be on rate rationalisation. A presentation covering the pending work, was also promised.

Sitharaman had said in "the next meeting of the GST Council, the Group of Ministers (GoM) on rate rationalisation under Bihar Deputy Chief Minister Sumant Chaudhary, will give a presentation on the status of the work and aspects covered by the panel and work pending before the panel,” reported the PTI.

The finance minister had further instructed the Group of Ministers(GoM) to keep a report ready for the same. "There will be a presentation by the GoM irrespective of whether the report is draft... and then Council will start the discussion on rate rationalisation in the next meeting," Sitharaman had said during the June 2024 meeting.

The 53rd meeting had recommended waiving interest and penalties for demand notices under the CGST Act, monetary limit of Rs. 20 lakh for GST Appellate Tribunal, Rs. 1 crore for High Court and Rs. 2 crore for Supreme Court, for filing of appeals by the Department, introducing 12% GST on milk cans and carton boxes, among several other recommendations.

GST Council

The GST Council, which comprises of finance ministers of Centre and states, is the apex decision making body with regard to Goods and Services Tax(GST). The tax was rolled out on July 1, in 2017.

Experts said the Council meeting may give further momentum to reforms, addressing not only tax rate revisions but also compliance simplification and dispute resolution, Mint reported.