Quick Summary
Union Finance Minister Nirmala Sitharaman chaired a crucial pre-Budget consultation with finance ministers of states and Union Territories, emphasizing the importance of inclusive growth and fiscal responsibility. This significant meeting was followed by the 53rd meeting of the GST (Goods and Services Tax) Council on June 22, 2024, where several pivotal decisions were made to streamline taxation and boost economic activity. Key Announcements from the GST Council Meeting Exemption fo
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FAQ :
Hostel accommodation services outside educational institutions are now exempt from GST for amounts up to £20,000 per person per month, provided the student stays continuously for 90 days.
Yes, purchases of railway tickets, waiting room and cloak room charges, services from battery-operated vehicles, and intra-railway services are now exempt from GST.
A uniform GST rate of 12 percent has been established for milk cans to support the dairy sector.
The GST Council recommended a waiver of interest on penalties arising from tax demand notices.
The Centre is committed to supporting states through timely tax devolution, settlement of GST compensation arrears, and a 50-year interest-free loan scheme for states undertaking reforms.
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