54th GST Council Meeting 2024: The 54th GST Council meeting, led by Finance Minister Nirmala Sitharaman and graced by state ministers, kicked off today. The council is expected to address several crucial issues, including the taxation of insurance premiums, recommendations on rate rationalization from the Group of Ministers, and updates on online gaming, according to sources from PTI.
Key takeaways from the 54th GST Council meeting include:
Key takeaways from the 54th GST Council meeting include:
- Issue on Tax on R&D sent to Fitment Committee
- GST on religious travel by helicopter has been reduced from 18% to 5%.
- Proposal of Tax on Online Transaction to Go to Fitment Committee
- Sources say that the Insurance GST cut proposal was deferred, to be taken up again in the next meeting