Key Highlights of 48th GST Council Meeting

The Goods and Service Tax (GST) Council meeting at the national capital Delhi on Saturday, 17 December has concluded without any decisions on the highly anticipated GST Appellate Tribunals, tax rate applicable on gutkha and pan masala.

The following are the key highlights of 48^th GST Council meeting;

1. Threshold limit of for launching of GST offences increased to Two Crores except in case of fake invoices.
2. 5% GST Ethyl Alcohol applicable to Blended Petrol
3. Decriminalized certain offences of Obstruction of services by officers, failure to supply information etc.
4. E-Com Portals can supply goods of Unregistered Suppliers
5. No Claim Bonus offered by Insurance Companies does not attract GST
6. No Decision on GST Appellate Tribunal
7. Both GoM Reports on Pan Masala, Gutka and GSTAT to be discussed in Next Meeting: FM

Support our journalism by subscribing to TaxscanAdFree. Follow us on Telegram for quick updates.