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Agenda of 30th GST council meeting held on 28th September 2018 revolved around the administerial progress made in GST system. Nonetheless, discussions also happened around the necessity to levy cess in case of exigencies. Finance Minister of India, Arun Jaitley chaired the meeting held via video conferencing.
Latest Updates
16th December 2022
48th GST Council Meeting is scheduled on 17th December 2022, Saturday. This meeting is happening after a gap of five months ahead of the Union Budget 2023, slated to be presented on 1st February 2023.
24th June 2022
The 47th GST Council meeting was held on the 28th and 29th of June 2022 in Chandigarh. Union FM Nirmala Sitharaman chaired this meeting and made recommendations to revise rates for revenue augmentation and correction of inversion while pruning the GST exemption list. Compliance relief was granted to e-commerce suppliers and composition taxpayers.
A seven-member Group of Ministers (GoM) is formed to look into the following verticals and submit a report of recommendations to the GST council by 31st October 2018 on the following issues:
The GST collections have been beyond the expected target in many north-eastern states. Additionally, a panel of analysts will be conducting a research on all the states pertaining to the GST collection and will recommend ways to bridge the gap between the current revenue and targeted revenue. The graph of the GST revenue collection showed that states showed 16% shortfall in the first year of its implementation. This shortfall has been reduced to 13% in April – Aug 2018. Finance minister Arun Jaitley stated that the deficit is expected to neutralize itself within 5 years of GST’s rollout. As per the analysis based on the facts mentioned above, the future rate cuts in the goods and services will depend on the increase in revenue collections in all the states in the coming months. * Press releases are yet to be notified by the CBIC.