The Goods and Services Tax (GST) Council met on June 22, 2024, to discuss various suggestions regarding tax exemption on services offered by the Indian Railways.
Finance Minister Suggests
According to Nirmala Sitharaman, Finance Minister of the Government of India, items like the sale of platform tickets and retiring room services, waiting room services, cloakroom services, and battery-operated car services will now be exempted from GST. Sitharaman made the announcement as she apprised the press regarding the discussion meeting.
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Talking of the same, FM said, “Today’s GST Council meeting has taken a lot of decisions on trade facilitation, easing compliance burden, and relief to tax payers.” The meeting saw the participation of the Union Minister of State for Finance, Chief Ministers of Goa and Meghalaya, Deputy CMs of Bihar, Haryana, MP, and Odisha, Finance Ministers of states, and various other senior officials.
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Other decisions have also been implemented, such as the pan-India biometric authentication to detect fake invoicing, waiving interest penalties on special demand notices, an extension for availing input tax credit on invoice or debit note, and a GST rate of 12% on all types of sprinkles, milk cans, carbon boxes, etc. This was the first council meeting on GST after the formation of the new government, and another meeting on the same is set to take place in August.
