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Key takeaways from the 49th GST Council Meeting 
Council Meetings
CA. Sachin Jindal

Key takeaways from the 49th GST Council Meeting 

The GST Council meeting was held for the 49th Time on 18th February 2023 under the chairmanship of the Hon’ble Union Finance & Corporate Affairs Minister. Key points of discussion were Clearance of Compensation cess dues to States, revision of GST rates of a few items, GST appellate tribunal and its structure, Capacity-based taxation and special composition scheme for certain sectors, and additional trade facilitation measures. Key Takeaways from the 49th GST Council Meeting: 1. Measures for facilitation of trade a. Extension of time limit for application for revocation of cancellation of registration. Presently, as per Section 30 of the

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Takeaways from 48th GST Council Meetings 
Council Meetings
CA. Sachin Jindal

Takeaways from 48th GST Council Meetings 

In the 48th GST Council meeting, the GST council suggested changes in GST rates of certain products, clarified GST rates applicable, decriminalization of certain offenses under GST, rationalization of GST provisions, etc.

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CBIC can’t modify scope of Exemption Notification
Judgements
CA. Sachin Jindal

CBIC can’t modify scope of Exemption Notification

Hon’ble CESTAT stated that exemption notification is issued by Central Government in the exercise of power given under section 93 of the Finance Act, 1994. Exemption notification is approved after obtaining approval from both houses of parliament. However, no power is extended to CBIC to modify the scope of the exemption notification. Therefore, conditions attached by CBEC to exemption issued by the Central Government are illegal, unauthorized, and of no effect.

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