GST INDIA Biz
GST India .biz — Press Release Details
Detailed GST Press Release Information
Download

Press Release

Date: June 29, 2022
Subject: 47th GST Council Approves Wide-Ranging Rate Rationalisation, Exemption Withdrawal, and Compliance Reforms
Description:

The 47th meeting of the GST Council, held in Chandigarh under the chairpersonship of Union Finance Minister Smt. Nirmala Sitharaman, approved a comprehensive package of GST reforms aimed at correcting inverted duty structures, rationalising exemptions, strengthening compliance, and improving revenue buoyancy. A major focus of the meeting was rate rationalisation based on recommendations of the Group of Ministers, resulting in upward revision of GST rates on several goods and services such as inks, cutlery, pumps, machinery, LED lamps, works contracts, and job work services, while concessional rates were extended to select medical devices, orthopedic appliances, and ropeway transport. The Council also decided to withdraw or restrict exemptions on pre-packaged and pre-labelled food items, certain goods such as cheques and maps, and a range of services including renting of residential dwellings to registered persons and warehousing of taxable commodities, in order to broaden the tax base. Clarifications were issued on GST treatment of electric vehicles, fly ash bricks, mango products, ice-cream parlours, healthcare services, leasing of land, toll charges, and various service classifications to reduce litigation. On compliance and trade facilitation, the Council approved measures to allow unregistered suppliers and composition taxpayers to make intra-state supplies through e-commerce platforms, streamlined refund mechanisms, rationalised interest provisions on ITC, extended due dates and waivers for certain returns, and introduced additional digital payment options. It also approved ad-hoc IGST apportionment to States, constitution of Groups of Ministers on the GST Appellate Tribunal and online gaming, and adoption of AI/ML-based tools by GSTN to curb tax evasion. All rate changes were recommended to take effect from 18 July 2022, reflecting a balanced approach to revenue augmentation and ease of doing business.

Other Press Releases

GST Council Recommends Nationwide Rollout of E-Way Bill with Simplified Rules

The GST Council, in its 26th meeting held on 10 March 2018, recommended the intr...

Read More
Clarification on Filing of Annual Return (GSTR-9) and Reconciliation Statement (GSTR-9C) for FY 2018-19

The press release dated 09 October 2020 provides important clarifications regard...

Read More
GST Council Extends Export Tax Exemptions and Defers E-Wallet Scheme to Support Exporters

In a move aimed at providing continued relief to the exporting community, the GS...

Read More