GST Council meeting scheduled for June 22

by IANS |

New Delhi, June 13 (IANS) The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on June 22 to take a look at the taxes being levied on goods and services ahead of the full Union Budget which is likely to be presented in July.

"The 53rd meeting of the GST Council will be held on June 22 at New Delhi," the GST Council Secretariat said in a post on X. Twitter.

Sources said that the GST Council which includes finance ministers of all states and UTs, may take a look at rationalising the inverted tax structure on some items in cases where the levy on inputs is higher than the finished products. This tends to hold back manufacturing.

The council may also look at the need for tweaking some taxes keeping the inflation burden of consumers in mind.

At its last meeting in October, the Council decided to reduce the GST on pre-packaged and labelled millet flour with 70 per cent millet content from 18 per cent to 5 per cent. Millet flour has been exempted from GST if sold in loose form.

Overall GST collections have been growing steadily and the revenue for May 2024 stands at Rs 1.73 lakh crore, around 10 per cent higher on an annual basis.

Latest News
Justin Trudeau's praise for Diljit as 'guy from Punjab' earns rebuke from BJP Mon, Jul 15, 2024, 05:07 PM
Six killed, two seriously injured in crash in eastern Myanmar Mon, Jul 15, 2024, 05:05 PM
Hayley Matthews rejoins Melbourne Renegades ahead of WBBL season 10 Mon, Jul 15, 2024, 04:42 PM
Apple's India sales hit new high in FY24 amid increased manufacturing, premiumisation trend Mon, Jul 15, 2024, 04:36 PM
Stock markets continue upward trajectory, Nifty touches fresh all-time high Mon, Jul 15, 2024, 04:32 PM
South Korea discusses ways to bolster bilateral ties with New Zealand Mon, Jul 15, 2024, 04:30 PM
Oli thanks PM Modi, vows to take India-Nepal ties to new heights Mon, Jul 15, 2024, 04:29 PM
Calcutta HC adjourns hearing in defamation suit filed by Guv against CM Mon, Jul 15, 2024, 04:28 PM
Filmmaker Nallamuthu advocates for an Indian wildlife channel Mon, Jul 15, 2024, 04:28 PM
SC refuses to quash DA case against Karnataka Deputy CM Shivakumar Mon, Jul 15, 2024, 03:50 PM
Study shows late detection of cancer is a major concern Mon, Jul 15, 2024, 03:47 PM
24X7 coordinated patrolling by Indo-Bangla border forces to curb crimes, infiltration Mon, Jul 15, 2024, 03:46 PM
Sridhar Vembu on developing talent, addressing 'power imbalance' at Indian workplaces Mon, Jul 15, 2024, 03:45 PM
Delhi court extends Manish Sisodia's judicial custody till July 22 Mon, Jul 15, 2024, 03:41 PM
Yemen's Houthis claim attacks on Israeli ship, city Mon, Jul 15, 2024, 03:22 PM