By: Shubham Ghosh
India’s Goods and Services Tax (GST) Council on Saturday (18) reduced the Goods and Service Tax on liquid jaggery, pencil sharpeners, and certain tracking devices, finance minister Nirmala Sitharaman said.
She also added that all the GST compensation dues will be cleared, including Rs 16,982 crore (£1.7 billion) for the month of June.
Briefing media after the 49th meeting of the GST Council, the minister informed that reports of the GoM (Group of Ministers) on checking tax evasion by pan masala and gutkha industry, and on Goods and Services Tax Appellate Tribunals (GSTATs), have been taken on board.
Sitharaman further said the GST Council has decided to rationalise late fees on filing of annual GST returns after the due date.
Finance ministers of states and UTs (with legislature) and senior officials of the federal government and states participated in the meeting.