Key Recommendations made by 53rd GST council meeting held today -

Key Recommendations made by 53rd GST council meeting held today -

1. Waver of interest and penalty on demand notices issued under section 73 for Fy 17-18, 18-19, 19-20. Applicable in cases where tax is paid entirely by March 2025.

2. ⁠time limit to avail ITC u/s16(4) filed till 30th Nov instead of Oct For FY 1718 1819 1920 2021

3. ⁠Monetary limit for filing appeal by tax dept. of 20 lakh for tribunal; 1cr for HC and 2 cr for SC.

4. ⁠max amount of pre deposit for filing appeal before appellate authority reduced from 25 cr to 20 cr each for cgst and sgst.

5. ⁠per deposit for filing appeal before tribunal reduced to 20% and 20 cr each for cgst and sgst.

6. ⁠Amendment in law for providing that time limit for filing appeal before tribunal will start from the date government notifies.

7. ⁠extension of time limit to file GSTR 4 till 30 June.

8. ⁠Interest won’t be charged for amount available in cash ledger at time of filing 3B.

9. ⁠insertion of new Form GSTR 1A to allow correction in GSTR 1. It will be allowed to file it before filing 3B.

10. ⁠Bio metric based Aadhar authentication on PAN India basis in a phased manner.

11. ⁠clarification issued on various topics. Few of them are - 12% tax rate for milk can; uniform GST rate of 12% on all carton boxes; clarification on all types of sprinklers will attract 12% and past practice to be as is; 12% rate on all solar cases; services by railways, platform ticket, other services are exempt; service of hostal accommodation outside of educational institutions made exempt with conditions.