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The most awaited 53rd GST Council meeting has held on June 22, 2024 and was chaired by the Hon’ble Finance Minister. Ths GST Council meeting aimed to enhance trade, simplify business operations, and enhance GST compliance. The GST Council has recommended a series of amendments and clarifications including: The GST Council recommendation belonged to following groups: This article discusses measures recommended for facilitation of trade and measures related to procedure and law. 1. Measures For Facilitation Of Trade: 1.1 Waiver of Interest and Penalty determined under form DRC-07: 1.2 Extended time limit to avail ITC, amendment in Section 16(4) of

The GST Council has met for the first time post election and the entire industry was keeping an eye on this meeting with high expectations. The council meeting discussed various crucial issues and made certain recommendations to resolve legal and technical issues being faced by the industry. The GST Council recommended about: This article discusses recommendations related to the changes in tax and the issues where necessary clarification is to be issued by CBIC to resolve the pending litigations. 1. Changes in GST Rates a. Changes in GST Rates of goods b. Exemptions from GST c. Change in GST rates