• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

GST Council meeting today: What's on agenda?

|

New Delhi, July 25: Finance Minister Nirmala Sitharaman will chair the 36th meeting of the GST Council through videoconferencing in Delhi today. This will be the first GST Council meeting after the Union Budget was placed before the parliament in July 5 and Sitharaman's second one.

The Council is likely to decide the valuation of goods and services in solar power generating systems and wind turbine projects for the purposes of levying GST.

GST Council meeting today: Whats on agenda?

Among other issues, the GST Council is expected to announce its decision on lowering tax rates for electric vehicles, solar power projects and rationalisation of GST rates on lottery.

GST collections in June dips below Rs 1 lakh crore, first time in FY20

The GST Council is also likely to look at the issue of taxation of lotteries. At present, there are two rates of GST on lottery. A 12% GST is levied on lottery run by state government and 28% GST is levied on lotteries authorised by state government.

To push domestic manufacturing of e-vehicles, the Centre proposed to the Council to slash GST rates to 5 per cent from 12 per cent.

GST rate for petrol and diesel cars and hybrid vehicles is already at the highest bracket of 28 per cent plus cess.

The Delhi High Court had in May asked the GST council to take a relook at the taxation structure following industry petition.

The government had earlier this year said that for the purpose of taxing solar power projects, 70 per cent of contract value would be treated as goods -- taxable at 5 per cent, and balance 30 per cent as services -- taxable at 18 per cent.

Single slab not possible for country with large poor population: Arun Jaitley

The last meeting of the GST Council was held on June 21 where the last date for filing of GST returns for FY 2017-18 was extended by two months to August 2019.

It had also approved the use of Aadhaar by businesses to register with GST Network (GSTN) and the imposition of a penalty of up to 10% on entities not passing on benefits of GST rate cuts to consumers.

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more