Quick Summary
A day after taking charge as Union Finance Minister, Nirmala Sitharaman is poised to preside over the highly anticipated 53rd GST Council meeting. The session is set to address several critical issues affecting various sectors of the economy, promising significant deliberations and potential resolutions. Pre-Meeting Preparations: Fitment Committees Role In the lead-up to the meeting, the council-nominated Fitment Committee is expected to convene and scrutinize several proposals for detaile
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FAQ :
The 53rd GST Council meeting is being chaired by Union Finance Minister Nirmala Sitharaman.
Proposals include bringing Aviation Turbine Fuel (ATF) under a 5% GST and Natural Gas under a 12-18% GST.
The council is likely to maintain the 28% GST on actionable claims in online gaming.
Discussions will also cover input tax credit clarifications, tax on metal and steel scrap, correcting inverted duty structures, and rate rationalisation.
The council aims to introduce measures to enhance compliance and streamline business operations, including a timeline for mandatory Aadhaar-based biometric authentication for GST taxpayers.
Proposals are under consideration to exempt services rendered between head offices and local branches of foreign operators from GST.
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