Unveiling the Evolution of the Goods and Services Act: GST Council Meeting References

In the process of writing this book, extensive research was conducted, including a thorough analysis of the GST Council meetings. This reference page serves as a valuable resource, containing pointers from the GST Council meetings, starting from the latest 50th meeting and going back to the very first one.

Delve into the rich repository of information and gain unique insights into the discussions, decisions, and deliberations that shaped the Goods and Services Act. Explore the evolution of the legislation as reflected in the minutes of the GST Council meetings, providing you with a comprehensive understanding of its development and implementation

Latest GST Council Meeting Decision below, Order Wise

Find all the latest updates on GST council meetings held before and after the implementation of goods and services tax.

50th GST Council Meeting (July 11, 2023)

● The meeting decided to tax online gaming and horse racing at the rate of 28%.
● The meeting also decided to increase the tax rate on luxury cars from 28% to 40%.
● The meeting also decided to simplify the GST registration process for small businesses.
● GST Appellate Tribunal to be notified.

49th GST Council Meeting (February 18, 2023):

● Endorsement of suggestions made by the Group of Ministers (GoM) to enhance revenue collection.
● Proposals to eliminate the capacity-based levy and allow the export of relevant goods only against a Letter of Undertaking (LUT) with a refund of accumulated Input Tax Credit (ITC).
● Recommendation to impose a compensation cess.
● Introduction of new GST rates on Raab and pencil sharpeners.

48th GST Council Meeting (December 17, 2022):

● No decisions were made on GST Appellate Tribunals and tax rates for gutkha and pan masala.
● The threshold limit for GST offences increased to Two Crores, except for fake invoices.
● 5% GST rate applied to Blended Petrol.
● Certain offences related to obstruction of services and failure to supply information were decriminalized.
● E-commerce portals allow to supply goods from unregistered suppliers.
● No GST is applicable on the No Claim Bonus (NCB) offered by insurance companies.

47th GST Council Meeting (June 28-29, 2022):

● Recommendations were made on various aspects related to the GST framework.
● Discussions were held regarding the inverted duty structure.
● Recommendations made for changes in GST rates for certain goods and services.
● Consideration is given to the withdrawal of certain exemptions under the GST regime.
● Deliberation on measures to enhance trade facilitation under the GST system.
● Focus on streamlining and improving GST compliance for businesses.

46th GST Council Meeting (December 31, 2021):

● Amendments in textile inversion referred to the rate rationalization committee.
● No decision on reversing the surge in footwear industry rates.
● Status quo maintained in textiles, rate remains at 5% instead of increasing to 12%.
● Emergency meeting held to address inversions since 2019.
● 12% rate on textiles scrapped, not implemented from January 1, 2022.

45th GST Council Meeting (September 17, 2021):

● Extension of concessional GST rates on COVID-19 treatment drugs.
● Reduction of GST rates on additional COVID-19 treatment drugs.
● Changes in GST rates for certain goods like ores, packaging containers, pens, and railway parts.
● Introduction of special composition scheme for brick kilns.
● Clarifications on various GST-related issues such as royalty on mining rights, admission to amusement parks, and transfer of unutilized CGST and IGST balances.
● Amendments to GST law for smoother compliance and processes.

44th GST Council Meeting (June 12, 2021):

● Focus on finalizing modalities for compensating states for a revenue shortfall of Rs 2.35 lakh crore.
● Proposal to reduce GST rates on COVID-19 relief items like hand sanitisers, face masks, gloves, PPE kits, temperature scanners, etc.
● Decision on relief measures based on the report of the Group of Ministers.

43rd GST Council Meeting (May 28, 2021):

● Exempted certain COVID-19 supplies from GST until August 31, 2021.
● Formed a Group of Ministers (GoM) to assess further reductions on new items.
● Rationalized late fees for small taxpayers for future liabilities.
● Made filing of Annual Return optional for small taxpayers.
● Proposed an amnesty scheme for late fees in GST return filing for small taxpayers (MSMEs) covering July 2017 to April 2021, from June 1 to August 31, 2021.

42nd GST Council Meeting (October 5th and 12th, 2020):

Quarterly filing for GSTR1 and GSTR3B for taxpayers with turnover below Rs. 5 crores.
● HSN code requirement: 6-digit level for higher turnover, 4-digit level for lower turnover.
● Refunds to validated bank accounts with PAN and Aadhar.
● Punjab's borrowing request for compensation shortfall of over Rs. 60,000 crore.

41st GST Council Meeting (August 27, 2020):

● States to receive loans at similar rates based on bond yields for equal borrowing opportunities.
● Discussion on tax rates postponed.
● 0.5% increase in borrowing limit provided under Option 1 of the FRBM Act.
● Compensation of Rs 1.5 lakh crore to be paid for April-July 2020, with a shortfall of Rs 2.35 lakh crore for annual GST compensation.

40th GST Council Meeting (June 12, 2020):

● Relief for small taxpayers: Waived late fee for GSTR 3B filing for taxpayers with no liability.
● Reduced interest rate: Lowered interest rate to 9% for small taxpayers with turnover up to ₹5 crores for delayed GST returns.
● No late fee or interest for small taxpayers: Exempted small taxpayers from late fee and interest for successful filing of GSTR-3B for May, June, and July supplies by September 2020.

39th GST Council Meeting (March 14, 2020):

● Introduction of the "Know Your Supplier" scheme.
● GST rates for Aircraft Maintenance, Repair, and Overhaul (MRO) services were reduced to 5%.
● Extension of deadlines for filing GSTR-1, GSTR-2A, and GSTR-3B until September 2020.
● Revised filing dates for GSTR-1 based on turnover: Before the 10th for turnover greater than Rs 1.5 crore and before the 13th for turnover lesser than Rs 1.5 crore. GSTR-2A reconciliation deadline is set for the 14th of every month.

38th GST Council Meeting (December 18, 2019):

● ITC claimed on a provisional basis reduced to 10% from 20%.
● Rationalization of GST rates to eliminate inverted tax structure.
● Late fee waived on filing GSTR 1 by January 10, 2020. Non-filing after January 10 results in a blocked E-way bill facility.
● Revised filing dates for GSTR-1 based on turnover: Before the 10th for turnover greater than Rs 1.5 crore and before the 13th for turnover lesser than Rs 1.5 crore. The GSTR-2A reconciliation deadline is set for the 14th of every month.

37th GST Council Meeting (September 20, 2019):

● Revised GST rates on multiple products and services to simplify the tax structure.
● Exemption granted to MSMEs from filing annual returns for FY 2017-18 and FY 2018-19.
● Optional filing of GSTR-9 for taxpayers with a turnover up to 2 crores.
● Extension of appeal date for GST appellate authority.
● Introduction of various amendments and changes to enhance the GST framework.

36th GST Council Meeting (July 27, 2019):

● Revision of GST rates for various goods and services.
● Exemption for small taxpayers from filing annual returns for FY 2017-18 and FY 2018-19.
● Introduction of simplified GSTR-9 form for taxpayers with turnover up to 2 crores.
● Implementation of an e-invoicing system for businesses with turnover exceeding 500 crores.

35th GST Council Meeting (June 21, 2019):

● Reduction of GST rates for electric vehicles.
● Approval of new return formats and transition plan.
● Introduction of electronic invoicing system.
● Extension of the tenure of the National Anti-Profiteering Authority by two years.

34th GST Council Meeting (March 19, 2019):

● Extension of the lower tax rate of 1% for affordable housing under the GST regime.
● The decision to allow the use of an Aadhaar number for registration under GST.
● Increase in the turnover threshold for the composition scheme.
● Simplification of the GST refund process.

33rd GST Council Meeting (February 24, 2019):

● Increase in the threshold for exemption from registration for the supplier of goods to 40 lakhs.
● The threshold limit for the composition scheme was raised to 1.5 crores.
● Creation of a centralised Appellate Authority for Advance Ruling (AAAR).
● Extension of the due date for filing GSTR-3B returns by three days for specified states.

32nd GST Council Meeting (January 10, 2019):

● Increase in the threshold for exemption from registration for the supplier of services to 20 lakhs.
● Introduction of a single return filing system.
● The composition scheme limit was raised to 1.5 crores.
● Reduction of GST rates for certain goods and services.

31st GST Council Meeting (December 22, 2018):

● Reduction of GST rates for various goods and services.
● Creation of a centralised registration system for banks and insurance companies.
● Introduction of mandatory Aadhaar authentication for obtaining GST registration.
● Simplification of the process for claiming GST refunds.

30th GST Council Meeting (September 28, 2018):

● Increase in the threshold for exemption from registration for the supplier of goods to 40 lakhs.
● The threshold limit for the composition scheme was raised to 1.5 crores.
● Relief measures announced for small businesses, including the quarterly filing of returns.
● Reduction of GST rates for various goods and services.

29th GST Council Meeting (August 4, 2018):

● Introduction of the new return filing system with simplified forms.
● Decision to implement the e-way bill system for intra-state movement of goods.
● Reduction of GST rates for various goods and services.
● Amendment to the GST law to provide relief for small taxpayers

28th GST Council Meeting (July 21, 2018):

● Revision of GST rates for certain goods.
● Approval of the simplified return filing process.
● Decision to form a Group of Ministers (GoM) to examine issues related to the lottery under GST.
● Extension of the due date for filing GSTR-6 (Input Service Distributor) for the financial year 2017-18.

27th GST Council Meeting (May 4, 2018):

● Introduction of e-way bill system for inter-state movement of goods.
● Amendment to the GST law to facilitate the matching of input tax credits.
● Reduction of GST rates for various goods and services.
● Simplification of the compliance process for small taxpayers.

26th GST Council Meeting (March 10, 2018):

● Revision of GST rates for various goods and services.
● Decision to introduce the e-way bill system for inter-state movement of goods from April 1, 2018.
● Exemption of GST on export-related services for specified sectors.
● Measures to improve the ease of doing business under GST.

25th GST Council Meeting (January 18, 2018):

● Reduction of GST rates for various goods and services.
● Amendment to the GST law to address issues related to the reverse charge mechanism.
● Introduction of quarterly return filing for taxpayers with turnover up to 1.5 crores.
● Rationalization of compliance requirements for small taxpayers.

24th GST Council Meeting (December 16, 2017):

● Amendment to the GST law to facilitate the filing of returns and the payment of taxes.
● Revision of GST rates for various goods and services.
● Relief measures announced for taxpayers affected by natural disasters.
● Simplification of the refund process for exporters.

23rd GST Council Meeting (November 10, 2017):

● Reduction of GST rates for various goods and services.
● Introduction of the composition scheme for taxpayers with turnover up to 1.5 crores.
● Simplification of the compliance process for small taxpayers.
● Amendments to the GST law to address issues related to input tax credit.

22nd GST Council Meeting (October 6, 2017):

● Revision of GST rates for various goods and services.
● Introduction of the e-way bill system for inter-state movement of goods.
● Exemption of GST on services provided by the specified sports bodies.
● Measures to address issues related to the GST network (GSTN) and return filing process.

21st GST Council Meeting (September 9, 2017):

● Revision of GST rates for various goods and services.
● The decision to increase the cess on motor vehicles.
● Relief measures announced for taxpayers affected by natural disasters.
● Introduction of measures to simplify the compliance process for small taxpayers.

20th GST Council Meeting (August 5, 2017):

● Approval of the rules for refunds, composition scheme, and valuation.
● Discussion on the implementation of e-way bills and the timeline for its rollout.
● Consideration of issues related to tax rates, compliance, and returns.

19th GST Council Meeting (July 17, 2017):

● Approval of the rules for input tax credit, invoice format, and valuation.
● Discussion on the exemption limit for composition scheme taxpayers.
● Consideration of issues related to the registration process and tax rates for different sectors.

18th GST Council Meeting (June 30, 2017):

● Approval of the final GST rules for input tax credit, invoice format, and registration.
● Discussion on the e-way bill implementation and timeline.
● Consideration of issues related to tax rates for specific goods and services.

17th GST Council Meeting (June 18, 2017):

● Approval of the rules related to advance rulings and appeals.
● Discussion on tax rates for lottery tickets and the treatment of hotels and restaurants.
● Consideration of issues related to the implementation of GST Network (GSTN) and the IT infrastructure.

16th GST Council Meeting (June 11, 2017):

● Approval of the rules for e-way bills, including the exemption threshold for intra-state movement.
● Discussion on the compliance model for taxpayers and the simplification of the return filing process.
● Consideration of issues related to tax rates and compliance for job work, textiles, and other sectors.

15th GST Council Meeting (June 3, 2017):

● Approval of the rules for GST refunds, input tax credit, valuation, and transition provisions.
● Discussion on the rates for gold and other precious metals.
● Consideration of rules related to advance rulings and appeals under GST.

14th GST Council Meeting (May 18-19, 2017):

● Finalization of rates for over 1,200 goods and 500 services.
● Discussion on the fitment of items into different tax slabs.
● Approval of the compensation cess rates for goods like tobacco, pan masala, and luxury cars.

13th GST Council Meeting (March 31, 2017):

● Approval of the final drafts of the State GST (SGST) and Union Territory GST (UTGST) laws.
● Discussion on the threshold for registration under the composition scheme.
● Consideration of rules related to electronic waybills (e-way bills) for the movement of goods.

12th GST Council Meeting (March 16, 2017):

● Approval of the final drafts of the Central GST (CGST) and Integrated GST (IGST) laws.
● Deliberation on the rules for composition scheme taxpayers.
● Discussion on the exemption limit and tax rates for certain sectors.

11th GST Council Meeting (March 4, 2017):

● Finalization of the tax rates for goods and services under the GST regime.
● Discussion on the compensation mechanism for states to address any revenue shortfall during the transition period.
● Consideration of rules related to input tax credit, registration, and returns.

10th GST Council Meeting (February 18, 2017):

● Agreement on threshold limits for composition scheme based on annual turnover.
● Approval of state GST (SGST) and Union Territory GST (UTGST) laws.
● Consideration of GST rules for registration, payment, and refund.

9th GST Council Meeting (January 16, 2017):

● Finalization of dual control mechanism for taxpayers with annual turnover below ₹1.5 crore.
● Approval of Central GST (CGST) and Integrated GST (IGST) laws.
● Discussion on the classification of goods and services under different tax rates.

8th GST Council Meeting (January 3rd and 4th, 2017):

● Approval of draft GST laws related to CGST and IGST.
● Discussion on compensation mechanism for states in case of revenue loss.
● Consideration of rules for taxpayer registration under GST.

7th GST Council Meeting (December 22-23, 2016):

● Approval of draft GST laws related to SGST and UTGST.
● Discussion on tax rate structure and compensation mechanism.
● Consideration of rules for GST return filing and tax payment.

6th GST Council Meeting (December 11-12, 2016):

● Discussion on threshold limits for taxpayer registration.
● Consideration of tax rate structure and exemption limits.
● Approval of rules for composition scheme and anti-profiteering measures.

5th GST Council Meeting (December 2nd and 3rd, 2016):

● Discussion on draft GST laws related to registration, returns, and payment.
● Consideration of threshold limits for taxpayer registration.
● Approval of rules for input tax credit, valuation, and transitional provisions.

4th GST Council Meeting (November 3rd and 4th, 2016):

● Approval of draft GST laws related to compensation, cess, and integrated tax.
● Discussion on threshold limits for taxpayer registration.
● Consideration of rules for anti-profiteering measures and administrative control.

3rd GST Council Meeting (October 18th and 19th, 2016):

2nd GST Council Meeting (September 30th, 2016):

● Approval of draft GST laws related to composition scheme and place of supply.
● Discussion on threshold limits for taxpayer registration.
● Consideration of rules for input tax credit and anti-profiteering measures.

1st GST Council Meeting (September 22-23, 2016):

● Discussion on rules and procedures for GST implementation.
● Agreement on threshold limits for taxpayer registration.
● Deliberation on tax rates and compensation mechanisms for states.