47th GST Council Meeting Held in Chandigarh

47th GST Council Meeting  Held in Chandigarh

The 47th meeting of the GST Council has been held in

Chandigarh on 28-29 June 2022 under the chairmanship of Union Finance Minister Nirmala Sitharaman. The GST Council has deferred the 28 per cent GST proposal on casinos.

The entire Group of Ministers (GoM) report on Online Gaming, Casino, Horse Racing has been postponed. The proposal to postpone the 28% GST on casinos

has been canceled and sent back to GoM for reconsideration.On the first day of the meeting, the

GST Council has accepted the recommendations of a panel of ministers to do away with exemptions on several goods and services, including some unbranded packaged food items. Along with this, discounts on many services have been withdrawn.

These items and services have become expensive

Prepackaged and labeled meat (except frozen), fish, yogurt, cheese, honey, dried legumes, dried makhana, wheat and other cereals, wheat or meslin flour, molasses, puffed rice, all goods and organic manures and coir Pith manure will not be exempted from

GST and will now attract 5% tax.Similarly, 18% GST will be levied on the charges charged by banks for issuance of cheques. Maps and charts including atlas will incur a charge of 12%. Unpacked, unlabeled and unbranded goods will be exempt from GST.

Hotel rooms costing less than Rs1,000 per day will attract tax at the rate of 12 per cent. There is no tax

on it now. Also, for hospitalized patients, rooms (excluding ICU) renting more than Rs 5,000 will attract 5% GST. GST Council The Goods and Services Tax regime came into force after the Constitutional (122nd Amendment) Bill was passed by both houses of

Parliament in 2016. After more than 15 Indian states ratified it in their state legislatures President gave his assent.

The GST Council is a joint forum of the Center and the States. It was established by the President in

accordance with Article 279 A (1) of the amended Constitution. The members of the council include

Union Finance Minister (Chairman), Union Minister of State (Finance).Each State Minister in charge of

Finance or Taxation or any other Minister may be nominated as a member.

According to Article 279, the Council is "to make

recommendations to the Center and the States on important issues relating to GST, such as the GST on

goods and services subject to or may be exempted from the Model GST laws". It also decides on

different rate slabs of GST.