GST Council had chaired it 47th council meeting at Chandigarh on 27th & 28th of june 2022, The Gst council has made following recommendations in GST .
- Rates of gst on various goods and services has been rationalized to remove inverted duty structure.(Please read press release below for more details)
- Council has withdrawn exemptions on various goods and services.(Please read press release below for more details)
- Gst on hotel accommodation priced upto Rs.1000/- which is previously exempted is now taxable
- Room rent charged by the hospital(excluding ICU charges) above Rs.5000/- shall be taxed @5% without ITC
- Existing tax exemption for training or coaching in recreational activities relating to arts or cultural sports is being restricted to only when such services are provided by individual
- GST on casinos, race course and online gaming is sent to ministries of states for further inputs
- Clarification on gst rates of various good and services like fly ash bricks, electrical vehicles, application fees charges by universities, selling of advertisement space in souvenirs has been provided
- Goods transport agency is given an option to pay gst @ 5% or 12 % under forward charge, The option should be exercised by the tax payer at the beginning of the year.
There are other recommendations proposed by the GST council which can be accessed in the press release below
GST council will again meet in the first week of August 2022 for further discussion on other recommendations
Press release can be accessed at https://www.pib.gov.in/PressReleasePage.aspx?PRID=1838020
