48th meeting of GST Council
The 48th meeting of the GST Council was held on 17th December via video conferencing.
The meeting was chaired by Union Finance Minister Nirmala Sitharaman.
The meeting was attended by Union Minister of State for Finance Pankaj Choudhary, Finance Ministers of States & Union Territories and Senior officers from Union Government & States.
In June 2022, the GST Council had its 47th meeting.
Agenda of 48th GST council meeting
Certain offences relating to GST are expected to be decriminalised.
A decision will be made in areas on online gaming, casinos, gambling, and horse racing.
Establishment and powers of GST Appellate Tribunal in 2023.
Reduction in GST rate on health insurance from 18% to 12%.
To define the scope of CCI's power to act as an anti-profiteering authority.
Applicability of the special composition scheme for selling brick kilns with a 6% GST rate without the input tax credit.
Converting to capacity-based GST valuation principles for tobacco taxes.
About GST Council
To implement GST, the Constitutional (122nd Amendment) Bill was passed by both the Houses of the Parliament in 2016.
The GST Council has been notified as a constitutional body to deal with issues related to GST.
It is a joint forum of the Center and the States which was established by the President in accordance with Article 279A (1) of the amended Constitution.
Members of GST Council
Union Finance Minister (Chairman), Union Minister of State (Finance) from the Centre.
Each state minister in charge of finance or taxation or any other minister may be nominated as a member.
Functions of GST Council
To make recommendations to the Center and the States on important issues relating to GST.
It also decides on various rate slabs of GST.
What is the Goods and Services Tax (GST)?
It was introduced through the 101st Constitution Amendment Act, 2016.
It is one of the biggest indirect tax reforms in the country and was introduced with the slogan of ‘One Nation One Tax’.
GST subsumes indirect taxes like excise duty, value added tax (VAT), service tax, luxury tax etc.
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