Goods and Services Tax – GST Dated:- 18-2-2023 – News – Government of India to clear entire pending balance GST compensation of Rs. 16,982 crore for June 2022 GST Council adopts report of Group of Ministers (GoM) on GST Appellate Tribunal with certain modifications GoM report on Capacity Based Taxation and Special Composition Scheme in certain Sectors on GST approved Changes in GST rates of Rab and Pencil Sharpner The 49th GST Council met under the Chairpersonship of Union Minister for Finance Corporate Affairs Smt. Nirmala Sitharaman in New Delhi today. The meeting was also attended by Union Minister of State for Finance Shri Pankaj Chaudhary besides Finance Ministers of States UTs (with legislature) and senior officers of the Ministry of Finance States/ UTs. The GST Council has, inter-alia, made the following recommendations relating to GST compensation, GST Appellate Tribunal, approval of the Report of Group of Ministers (GoM) on Capacity Based Taxat
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compensation pending for June 2022 (Rs. In crore) 1 Andhra Pradesh 689 2 Bihar 92 3 Chhattisgarh 505 4 Delhi 1212 5 Goa 120 6 Gujarat 865 7 Haryana 629 8 Himachal Pradesh 229 0 Jammu and Kashmir 210 10 Jharkhand 342 11 Karnataka 1934 12 Kerala 780 13 Madhya Pradesh 730 14
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e. 3. Approval of the Report of GoM on Capacity Based Taxation and Special Composition Scheme in certain Sectors on GST: With a view to plug the leakages and improve the revenue collection from the commodities like pan masala, gutkha, chewing tobacco, the Council approved the recommendations of the GoM including, inter alia, that the capacity based levy not to be prescribed; compliance and tracking measures to be taken to plug leakages/evasions; exports of such commodities to be allowed only against LUT with consequential refund of accumulated ITC; compensation cess levied on such commodities to be changed from ad valorem to specific tax based levy to boost the first stage collection of the revenue 4. Recommendations relating to GST rates on Goods and Services (1) Changes in GST rates of Goods and Services Sr. No. Description From To Goods 1.
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that exemption benefit covers both coal rejects supplied to and by a coal washery, arising out of coal on which compensation cess has been paid and no input tax credit thereof has been availed by any person. (5) It has been decided to extend the exemption available to educational institutions and Central and State educational boards for conduct of entrance examination to any authority, board or a body set up by the Central Government or State Government including National Testing Agency for conduct of entrance examination for admission to educational institutions. (6) It has been decided to extend the dispensation available to Central Government, State Governments, Parliament and State Legislatures with regard to payment of GST under reverse charge mechanism (RCM) to the Courts and Tribunals also in respect of taxable services supplied by them such as renting of premises to telecommunication companies for installation of towers, renting of chamber to lawyers etc. 5. Measures
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application for revocation by a specified date, subject to certain conditions. (2) Amendment to Section 62 of CGST Act, 2017 to extend timelines under sub-section (2) thereof and one time amnesty for past cases: As per sub-section (2) of section 62 of CGST Act, 2017 , the best judgment assessment order issued under sub-section (1) of the said section is deemed to be withdrawn if the relevant return is filed within 30 days of service of the said assessment order. The Council recommended to amend section 62 so as to increase the time period for filing of return for enabling deemed withdrawal of such best judgment assessment order, from the present 30 days to 60 days, extendable by another 60 days, subject to certain conditions. The Council has also recommended to provide an amnesty scheme for conditional deemed withdrawal of assessment orders in past cases where the concerned return could not be filed within 30 days of the assessment order but has been filed along with due i
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g an aggregate turnover of more than Rs. 5 crores and up to Rs. 20 crores in the said financial year: Rs 100 per day (Rs 50 CGST + Rs 50 SGST), subject to a maximum of an amount calculated at 0.04 per cent. of his turnover in the State or Union territory (0.02% CGST + 0.02% SGST). (4) Amnesty in respect of pending returns in FORM GSTR-4 , FORM GSTR-9 and FORM GSTR-10 : To provide relief to a large number of taxpayers, the Council recommended amnesty schemes in respect of pending returns in FORM GSTR-4 , FORM GSTR-9 and FORM GSTR-10 by way of conditional waiver/ reduction of late fee. (5) Rationalization of provision of place of supply of services of transportation of goods: Council recommended to rationalize the provision of place of supply for services of transportation of goods by deletion of section 13(9) of IGST Act, 2017 so as to provide that the place of supply of services of transportation of goods, in cases where location of supplier of services or location
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