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New GST Rules: Some items included and excluded from GST, Check here


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Union Finance Minister Nirmala Sitharaman led a productive session of pre-Budget consultations with finance ministers from various states and Union Territories to gather their valuable insights. This was followed by the 53rd meeting of the Goods and Services Tax (GST) Council, where important decisions were made.

One of the notable decisions taken by the GST Council is the exemption of GST on services related to hostel accommodation outside educational institutions, provided the cost does not exceed Rs 20,000 per person per month. However, this exemption comes with a condition that the student must have resided in the hostel continuously for a period of 90 days. This condition has been put in place to prevent hotels from taking undue advantage of the exemption.

Furthermore, the purchase of railway tickets and payments for waiting room and cloak room charges have also been exempted from GST. Additionally, services such as battery-operated vehicles and intra-railway services will not be subjected to GST.

In an effort to provide relief to taxpayers, the GST Council has recommended the waiver of interest on penalties related to tax demand notices. Additionally, a uniform rate of 12 percent has been set for the taxation of milk cans.

During the pre-Budget meeting, Minister Sitharaman emphasized the Central Government’s commitment to supporting states through timely tax devolution and the clearance of GST compensation arrears, all aimed at fostering economic growth.

She also encouraged states to make use of the scheme that offers a 50-year interest-free loan to undertake specified reforms, highlighting the opportunities for development and progress that it presents.

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