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