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GST Council Meeting: Union Finance Minister Nirmala Sitharaman has chaired the 48th meeting of the GST Council (GST Council 48th Meeting) through virtual medium in Delhi today. Finance Minister Nirmala Sitharaman said that in this meeting, a decision has been taken on 8 out of 15 points of the agenda. In this there were 2 issues of GOM, which needed to be discussed, but they could not be considered. It pertains to capacity-based taxation on tobacco and gutkha and establishment of GST Tribunal.
Prosecution amount limit 2 crores
Sanjay Malhotra, Revenue Secretary said that the decisions taken during the GST Council meeting included decriminalizing certain cases including preventing any officer from discharging his duties and amounting to initiation of prosecution in any case under GST laws. The limit has been raised from Rs 1 crore to Rs 2 crore (except fake challans).
Zero tax on pulses husk
The Revenue Secretary said after the meeting of the GST Council that the rate of tax on husk of pulses has been reduced from 5 percent to zero. In this meeting, ethanol blending with petrol has been allowed for refineries at a concessional rate of 5 percent. Decriminalization of offenses under the GST law, setting up of appellate tribunals have been discussed in the GST Council meeting.
Finance Ministry tweeted information
Union Finance Minister @nsitharaman chairs the 48th meeting of the #GSTCouncil via virtual mode in New Delhi
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Read details: https://t.co/PhUeGoOk7Q
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— PIB India (@PIB_India) December 17, 2022
Before this meeting, it was expected that during the meeting, clarity would be given on the rate of some goods and services. The Finance Ministry tweeted that, “Union Finance Minister Smt. @nsitharaman chaired the 48th meeting of the GST Council through virtual means in New Delhi today.”
Suggested to increase the monetary limit
With regard to the decriminalization of offenses under the GST laws, the Law Committee of the GST Council, consisting of tax officers from the Center and States, suggested to the Council an increase in the monetary threshold for initiating prosecution for GST offences. The Law Committee had suggested that for compounding of GST offences, the fee payable by the taxpayer should be reduced to 25 per cent of the tax amount. It is currently up to 150 percent. The committee has said this with a view to improve the ease of doing business.
There was no discussion on the issue of tobacco and gutkha
The GOM report on tax evasion by Pan Masala and Gutkha companies was to be discussed in the council meeting. With regard to setting up of Goods and Services Tax Appellate Tribunals (GSTATs), the GoM has suggested that the tribunals consist of a retired Supreme Court judge as chairperson, apart from two judicial members and one technical member each from the Center and states. should go.
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