Recommendations of 50th GST Council Meeting | Press Release

Press Release dated July 11th, 2023

The 50th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi today. The key recommendations made by the GST Council in its 50th Meeting are as follows:

a) Casino, Horse Racing and Online gaming to be taxed at the uniform rate of 28%

b) GST rate reduced to 5% on uncooked/unfried snack pellets

c) GST reduction on imitation zari thread or yarn known by any name in trade parlance from 12% to 5%

d) GST rate reduced on fish soluble paste from 18% to 5%

e) Exemption from IGST on import of Dinutuximab (Quarziba) medicine & Food for Special Medical Purposes (FSMP) used in the treatment of rare diseases

f) GST exemption on satellite launch services extended to such services supplied by organizations in private sector

g) Entry 52B amended in compensation cess notification to include all utility vehicles by whatever name called provided they meet specified parameters

h) GTAs will not be required to file declaration for paying GST under forward charge every year

i) Provisions of Finance Act, 2023 pertaining to GST Appellate Tribunal may be notified by the Centre with effect from 01.08.2023

j) Amnesty schemes for non-filers of FORM GSTR-4, FORM GSTR-9 & FORM GSTR-10 returns, revocation of cancellation of registration and deemed withdrawal of assessment orders issued under Section 62 of CGST Act, 2017 to be extended till 31.08.2023

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