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In the meeting of the GST Council chaired by Finance Minister Nirmala Sitharaman on Saturday, it has been decided to reduce the tax rates on some items. The GST Council, the apex decision-making body on matters related to Goods and Services Tax (GST), on Saturday decided to cut GST rates on liquid jaggery, pencil sharpeners and select tracking devices.
Union Finance Minister Nirmala Sitharaman GST Council This information was given after the 49th meeting of the Along with this, he said that all the arrears of GST compensation including Rs 16,982 crore for June will be paid soon. The Finance Minister further said that the GST Council has decided to rationalize the late fee for filing annual GST returns after the due date.
GST reduced on robes and pencil-sharpeners
In the GST Council meeting, it has been decided to reduce GST on many products. GST on Liquid Jaggery (Liquid Jaggery/Raab) has been reduced from 18% to 0%. On the other hand, if it is pre-packaged and labelled, then 5 per cent GST will be levied. Apart from this, GST has also been reduced on pencil-sharpener. The GST rate on pencils and sharpeners has been reduced from 18 per cent to 12 per cent.
This is the decision on Pan Masala
The Finance Minister told reporters that the report of the Group of Ministers (GoM) constituted under the chairmanship of Odisha Finance Minister Niranjan Pujari to check tax evasion in the Pan Masala and Gutkha industry was also discussed. Apart from Sitharaman, finance ministers of states and union territories and various senior officials also attended the meeting. Odisha Finance Minister Niranjan Pujari is heading the GoM on probing tax evasion by the pan masala and gutkha industry, while Haryana Deputy Chief Minister Dushyant Chautala is heading the panel on the Goods and Services Tax Appellate Tribunal (GSTAT).
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