• UGI USER
  • Jun 23, 2024
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NO GST ON RAILWAY SERVICES, HOSTEL STAY

Why in the news?

The Goods and Services Tax (GST) Council met after almost nine months.

 source-IE

About the News :

  • The GST Council’s recent decisions aimed at easing compliance for small businesses, providing exemptions, and addressing tax reforms and trade facilitation measures.
  • Compliance Measures: Approved measures to ease compliance for small businesses.
  • Exemptions Granted: Exempted hostel accommodation up to ₹20,000 a month and railway services from GST.
  • Future Discussions: Agreed to reconvene in August to discuss changes to the multiple GST rates.
  • New Members: The council included 11 new members from states like Bihar, Andhra Pradesh, Haryana, Rajasthan, and Odisha.
  • Relief Measures: Granted relief to taxpayers by waiving interest and penalties on some past tax demands and implementing steps to reduce litigation.

Associated article:

https://universalinstitutions.com/gst-council-meeting-on-june-22-first-in-2024/