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7 Key highlights of the 50th GST Council meet | Mint Primer | Mint

The 50th GST Council meeting brought significant changes, including tax exemptions on cancer drugs and rare disease medicines. The GST rate was reduced to 5% for snack palettes, fish soluble paste, LD slag, and imitation zari thread. However, online gaming faced a setback with a 28% GST rate imposed. The meeting also addressed concerns about ED interference in GSTN. This video explores the key highlights of the meeting, showcasing the latest updates and their implications on various sectors of the Indian economy.

13 Jul 2023
Politics

GST Council lowers tax rates but tries to protect fiscal health

The Council also reduced tax rates on a host of services including on job work related to diamonds, which has been lowered from 5% to 1.5%Nirmala Sitharaman, who chaired the GST Council meeting, said that the tax rates as well as slabs applying to hotel accommodation has been changed

2 min read20 Sep 2019
News

States wary of any move to reduce GST rates

Opposition from some states may make it tough for the Centre to respond to automakers’ pleas for tax cutsSome states cited revenue shortfall for opposing a move to cut GST rates

3 min read15 Sep 2019
News

GST Council meeting today: From EVs to lottery, what's on agenda

Manufacturing of electric vehicles will get another boost if GST rates are cut in the GST Council meeting todayThe GST Council is also expected to take up the issue of rationalisation of tax rates on lottery

2 min read25 Jul 2019
Politics

GST Council to decide on tax cut on electric vehicles this week

To push domestic manufacturing of e-vehicles, the Centre proposed to the Council to slash GST rates to 5%from 12%GST rate for petrol and diesel cars and hybrid vehicles is already at the highest bracket of 28% plus cess

1 min read21 Jul 2019
Money

Already bought a house? New GST rates may not apply to you

Developers can choose between the old and new GST rates for existing under-construction projectsAny new under-construction project that is launched after 1 April will have to adhere to new GST rates

4 min read25 Mar 2019
Politics

FinMin considers steps to prevent composition dealers from charging GST from buyers

Under the GST composition scheme, traders and manufacturers are required to pay only 1% GST on goods which otherwise attract a higher levy of either 5, 12 or 18%

1 min read13 Jan 2019
Companies

Under-construction flats may see a GST rate cut

This would be the 32nd meeting of the GST Council, which is chaired by Finance Minister Arun Jaitley and comprises his state counterparts. The GST Council is likely to consider lowering GST on under-construction flats and houses to 5 per cent.

3 min read2 Jan 2019
Politics

Arun Jaitley moots the idea of ‘one nation, one tax’

Post Saturday's rejig of GST rates, 97.5% of commodities are taxed at 18% or less

3 min read25 Dec 2018
Politics

GST tax cut: From TV to movie tickets, here’s full list of items that will get cheaper

GST Council meet: The goods on which GST has been lowered to 18 per cent from 28 per cent at present include pulleys, transmission shafts and cranks, gear boxes, retreaded or used tyres, power banks of lithium ion batteries, digital cameras, video camera recorders and video game consoles

4 min read23 Dec 2018
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