GST

GST council reviews incentives for digital transactions and imposition of Sugar Cess

GST council reviews incentives for digital transactions and Sugar Cess

27th GST council meeting discusses change in GST rate for digital transactions and imposition of Sugar Cess 

1. Incentive to promote Digital Transactions:

(a) Keeping in view the need to move towards a less cash economy, the Council has discussed in detail the proposal of a concession of 2% in GST rate [where the GST rate is 3% or more, 1% each from applicable CGST and SGST rates] on B2C supplies, for which payment is made through cheque or digital mode, subject to a ceiling of Rs. 100 per transaction, so as to incentivise promotion of digital payment.
(b) The council has recommended for setting up of a Group of Ministers from State Governments to look into the proposal and make recommendations, before the next Council meeting, keeping in mind the views expressed in GST Council.

2. Imposition of Sugar Cess over and above 5% GST and reduction in GST rate on ethanol:

(a) Keeping in view the record production of sugar in the current sugar season, and consequent depressed sugar prices and build-up of sugarcane arrears, the Council discussed the issue of imposition of sugar cess and reduction in GST rate on ethanol in great detail.

(b) The council has recommended for setting up of a Group of Ministers from State Governments to look into the proposal and make recommendations, within two weeks, keeping in mind the views expressed in GST Council in this regard.

Share

Recent Posts

  • RTI

Lokayukta Police not exempt from disclosure of information under RTI Act 2005 – SC

Lokayukta Police not an ‘intelligence and security’ organisation  and hence not exempt from disclosure of information under RTI Act 2005…

3 hours ago
  • Income Tax

Payment of imprest whether a transfer within the meaning of section 269ST

Payment of imprest whether a transfer within the meaning of section 269ST – case remanded for determination In a recent…

2 days ago
  • ICAI

CA Misconduct – Order quashed as judgment not passed by same members who heard arguments.

CA Misconduct – Appellate order quashed as final judgment was not passed by same members who heard arguments. In a…

4 days ago
  • Insurance

Deceased homemaker can not be considered as dependant for award of compensation under MV Act – SC

Deceased homemaker can not be considered as dependant for award of compensation under MV Act. Courts to award a composite…

4 days ago
  • Income Tax

CIT notice u/s 263 quashed as AO rightly took DVO value of property as actual sale price

CIT Revision notice u/s 263 quashed as the Assessing Officer rightly taken DVO value of property sold as actual sale…

6 days ago
  • GST

Extension of timeline for implementation of Ship To GSTIN & Voluntary Closure of E-Way Bill functionalities

Extension of timeline for implementation of mandatory "Ship To GSTIN" and Voluntary Closure of E-Way Bill functionalities GSTN Advisory dated…

6 days ago