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GSTAT: Relaxing retirement age, eligibility criteria of members to bring efficiency, say tax experts

Bigger bench strength to help reduce pendency of cases, but the government should go for recruitment of members on war footing, they say.

India , Rohit-jain , Chandrashekara-bharti-venkatraman , Rupender-sinhmar , Amit-gupta , Charanya-lakshmikumaran , Supreme-court , Services-tax-appellate-tribunal , Customs-excise-service-tax-appellate-tribunal , Services-tax-second-amendment , Central-goods , Services-tax

gst: FinMin notifies prospective levy of GST on corporate guarantees

The finance ministry has released an official notice indicating that, going forward, goods and services tax (GST) will be applied to corporate guarantees offered by companies to their subsidiaries. Earlier this month, the GST council provided clarification on the taxation of corporate guarantees, specifying that they would be subject to an 18 percent GST.

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Process to set up GST tribunals has started, Centre tells SC

A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was told by Attorney General R Venkataramani that the Union finance ministry issued a notification on September 14 and the process of setting up the tribunals has commenced. The bench asked the attorney general whether the tribunals have become functional.

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GST council meeting: GST Council's fitment committee rejects rate cut on over dozen items; defers call on uniform cess on tobacco products

The Fitment Committee of goods and services tax (GST) Council has recommended exempting powdered millet from GST when sold in loose form, with 70% millet content. The fitment committee, which comprises revenue officials from both the Centre and states also deferred decision on imposing uniform cess on cigarettes and bidi, as the industry said that the current cess system is not uniform.

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gst: GST Council meet to clear air on key issues - The Economic Times

The Goods and Services Tax (GST) Council will meet to discuss various matters including extending the concessional tax rate on vehicles for visually impaired persons, exemption on millets sold in powdered form, and clarifying tax on bank and corporate guarantees. The committee responsible for tax rates has rejected proposals including reducing GST on lithium-ion batteries, reducing compensation cess on cigarettes, and tax exemption for flying training institutes.

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Goods and Services Tax: Next GST council meeting on October 7

The agenda for the meeting is still being worked upon and will be finalised by the end of this week, officials said. "The 52nd meeting of the GST Council will be held on 7th October, 2023 at Vigyan Bhawan , New Delhi," the central Board of Indirect Taxes and Customs said in a post on X.

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Lobby group urges GST Council to cut in-cinema F&B tax

The Goods and Services Tax (GST) Council in India will discuss a proposal to reduce taxes on food and beverages sold in cinema halls from 18% to 5%. The move is in response to complaints from the Multiplex Association of India, which represents cinema owners. Lower taxes are expected to make cinema visits more affordable and boost revenue for theatre owners. The film industry in India has been struggling to recover from the impact of the COVID-19 pandemic, with Bollywood releases remaining inconsistent and box office earnings falling short of pre-pandemic levels.

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