Quick Summary
The 54th meeting of the GST Council is set for September 9, 2024, in New Delhi, with a comprehensive agenda that includes updates from two key Groups of Ministers (GoM). According to sources, the council will review the progress made by these panels, focusing on rate rationalization and reforms in the real estate sector. One of the primary items on the table is the GoM on Rate Rationalization, which will present a status report to the council. Sources suggest that the GoM will highlight the nee
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FAQ :
The 54th GST Council meeting is scheduled for September 9, 2024.
The meeting will take place in New Delhi.
The meeting will focus on status reports from two Groups of Ministers (GoMs) concerning rate rationalisation and real estate reforms under the GST regime.
The GoM on Rate Rationalisation will present a status report highlighting the need for discussions on GST rates, slab structures, and correcting the inverted duty structure, and may request more time to finalise recommendations.
The GoM on Real Estate is evaluating proposals such as exempting GST on industrial land leased for 30+ years, redefining affordable housing in major cities, and exempting GST on cooperative societies.
It is suggested that both GoMs may seek additional time to finalise their recommendations, indicating that consensus has not yet been reached on all points.
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