(Sher-i-Kashmir International Conference Centre, Srinagar)

Summary of Points Finalized in the Meeting

1. Rate of Interest for Delayed Payments and Refunds

The Council approved simple interest rates for delayed payments and refunds under various GST laws:

18% per annum for delayed payment of tax by taxpayers.

24% per annum for undue or excess ITC claims.

6% per annum for delayed refunds by the Government.

9% per annum where refund is withheld due to appeal or other proceedings.
These rates apply under the CGST, SGST, and IGST Acts uniformly.
14th GST Council Meeting, page 3–4

2. Tax Collected at Source (TCS) by E-Commerce Operators

Approved TCS rate under Section 52 of the CGST Act and corresponding provisions of IGST Act:

0.5% each under CGST and SGST Acts, and

1% under IGST Act.
This will help establish an audit trail for online sales without burdening e-commerce operators.
14th GST Council Meeting, page 4

3. Notification of Common GST Electronic Portal

The Council approved www.gst.gov.in as the Common Goods and Services Tax Electronic Portal under Section 146 of the CGST Act and Section 21 of the UTGST Act.

The portal will be managed by GSTN for all key taxpayer operations including registration, return filing, payment, e-way bills, and ITC settlement.
14th GST Council Meeting, page 5

4. Constitution of Project Management Team (PMT), Standing Committees and Sectoral Working Groups

A 3-tier structure was approved for project management of GST rollout:

Office of the Revenue Secretary

GST Implementation Committee (PMT) – 4 officers from Centre, 4 from States, 1 from GST Council

8 Standing Committees on key areas:

Law & Rules, IT, Fitment, Publicity, Capacity Building, Single Interface, Fund Settlement, and Guidance Notes.

18 Sectoral Groups were formed to handle sector-specific issues (e.g., Banking, IT, Textiles, Oil & Gas, Tourism, Mining, Infrastructure, etc.).

The Council authorized the Chairperson to finalize constitution and scope of these groups.
14th GST Council Meeting, pages 6–9

5. Nomination to GSTN Board

The Council approved the nomination of the Additional Secretary, GST Council as Ex-Officio Director on the GSTN Board, replacing the former Member Secretary of the Empowered Committee of State Finance Ministers.
14th GST Council Meeting, page 9

6. Mechanism for Sharing Merchant Discount Rate (MDR) Charges

The Council discussed sharing of MDR charges for digital tax payments (up to ₹1 lakh).

Decision deferred until estimation of financial implications.
14th GST Council Meeting, page 10

7. Approval of Amendments to Draft GST Rules and Forms

Final approval was granted to GST Rules on:

Registration, Payment, Refund, Invoice, Input Tax Credit, Valuation, and Composition, with specific modifications:

“Ninety days” replaced with “thirty days” in Rule 9(3) of Registration Rules.

Address of buyer must be recorded in invoice if requested by the buyer.

Clarified definitions for “turnover in State” in ITC Rule 7(1)(i).
14th GST Council Meeting, page 14

8. Approval of Fitment of Goods and Services into GST Rate Slabs

The Council finalized tax rates for 1,211 goods and multiple service categories across 5 slabs: 0%, 5%, 12%, 18%, and 28%.

About 81% of goods were kept at or below 18%.

Compensation Cess approved for luxury and sin goods (e.g., tobacco, coal, aerated drinks, large cars).

Discussions highlighted protection for textiles, handicrafts, and small manufacturers; decisions were balanced between revenue neutrality and inflation control.
14th GST Council Meeting, pages 15–20
Key Outcome:
The 14th GST Council Meeting marked a major milestone — finalizing the rate structure for goods and services, confirming the IT backbone (GSTN), and approving the operational framework for India’s nationwide GST rollout effective 1 July 2017.