Nirmala Sitharaman, the Union Finance Minister, is presiding over the GST Council’s 50th meeting today at Vigyan Bhawan in New Delhi. The Senior officials from the Union Government and states are present at the meeting in addition to the Union Finance Minister, Union Minister of State for Finance Pankaj Chaudhary, and the Finance Ministers of the states and union territories (with legislature).
The Finance Minister is expected to address the public shortly after the conclusion of the meeting, which began at 11:00 am. The exact time for the address is yet to be confirmed, as there is no information regarding the duration of the meeting. However, efforts will be made to conclude the meeting as expeditiously as possible.
As part of the 50th GST Council meeting, Union Finance Minister Nirmala Sitharaman has released a short film video titled ‘GST Council – 50 steps towards a Journey’ today. The Council meeting started at 11:00 am at Vigyan Bhawan, New Delhi.
The reports stated that the council has already taken the issue of Goods and Services Tax (GST) into consideration and will be resolved soon. As per the reports, the main agenda for the meeting will be the taxation issues of online gaming, horse racing and casinos.
In regards to GSTAT, the council authorised the establishment of a National Tribunal in New Delhi at its previous meeting (the 49th council meeting). However, even with the council’s endorsement of the appellate tribunals, it would take around 6 to 7 months for their full establishment.
As it’s the 50th GST council meeting and is a milestone for the government in the area of tax. It is expected that the council will come up with the solutions for the issues of GSTAT, online gaming and horse racing, pan masala, ITC claims, Fake registrations ..etc.
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