GST Council Meet on 18 Feb; What to watch out for post Budget?
GST Council Meet on 18 Feb; What to watch out for post Budget?
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The GST Council, chaired by India Finance Minister Nirmala Sitharaman, will meet on 18 February. The taxation of "pan masala" and "gutka" enterprises is probably going to be a topic of debate at the 49th GST meeting. In addition, discussions over GST on horse racing, casinos, and online gaming may occur.

The Council clarified the definition of SUVs at that meeting (sports utility vehicles). FM According to Sitharaman, a motor vehicle meeting all four requirements--it is commonly referred to as an SUV; it has an engine capacity over 1,500cc; it is longer than 4,000 mm; and it has a ground clearance of 170 mm and above-- is subject to the higher rate of compensating cess of 22%.

The minister said, the Council resolved that the panel of central and state tax officers (or the Fitment Committee) will investigate if any further motor vehicle categories ought to be included to the 22% cess.

To improve the tax mop-up, which now averages around 1.4 lakh crore per month, the Centre and states would make an effort to broaden the GST base at every level.

Currently, nearly 1.40 crore taxpayers are registered under GST.

Revenue Secretary Sanjay Malhotra said, the Council made a "path-breaking decision" to decriminalise three different sorts of GST offences: failing to provide information, intentionally tampering with tangible evidence, and obstructing an officer from performing their duties.

Except for the offence of issuing bills without the provision of goods or services or both, the minimum tax threshold for initiating a prosecution under GST has increased from 1 crore to 2 crore.

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