All GST Council Meetings Highlights that Impacts on your Business

In this blog, we are providing you all the latest updates on the GST Council meetings. These meetings are being held after the successful implementation of the Goods and Services Tax. It is important to know as the taxation system plays a relevant role in building trust. These meetings give business owners a way to determine what’s going on with the government and what rules and regulations they have enforced on businesses to make tax filing easier.

Let’s find all the latest updates on GST council meetings in a single content

Article Insights

• 49th GST Council Meeting Updates
• 48th GST Council Meeting Updates
• 47th GST Council Meeting Updates
• 46th GST Council Meeting Updates
• 45th GST Council Meeting Updates
• 44th GST Council Meeting Updates
• 43rd GST Council Meeting Updates
• 42nd GST Council Meeting Updates
• 41st GST Council Meeting Updates
• 40th GST Council Meeting Updates
• 39th GST Council Meeting Updates
• 38th GST Council Meeting Updates
• 37th GST Council Meeting Updates
• 36th GST Council Meeting Updates
• 35th GST Council Meeting Updates
• 34th GST Council Meeting Updates
• 33th GST Council Meeting Updates
• 32th GST Council Meeting Updates
• 31st GST Council Meeting Updates
• 30th GST Council Meeting Updates
• 29th GST Council Meeting Updates
• 28th GST Council Meeting Updates
• 27th GST Council Meeting Updates
• 26th GST Council Meeting Updates
• 25th GST Council Meeting Updates
• 24th GST Council Meeting Updates
• 23rd GST Council Meeting Updates
• 22nd GST Council Meeting Updates
• 21st GST Council Meeting Updates
• 20th GST Council Meeting Updates
• 19th GST Council Meeting Updates
• 18th GST Council Meeting Updates
• 17th GST Council Meeting Updates
• 16th GST Council Meeting Updates
• 15th GST Council Meeting Updates
• 14th GST Council Meeting Updates
• 13th GST Council Meeting Updates
• 12th GST Council Meeting Updates
• 11th GST Council Meeting Updates
• 10th GST Council Meeting Updates
• 9th GST Council Meeting Updates
• 8th GST Council Meeting Updates
• 7th GST Council Meeting Updates
• 6th GST Council Meeting Updates
• 5th GST Council Meeting Updates
• 4th GST Council Meeting Updates
• 3rd GST Council Meeting Updates
• 2nd GST Council Meeting Updates
• 1st GST Council Meeting Updates

49th GST Council Meeting Updates

• The 49th GST Council meeting was held in New Delhi on Saturday, February 18, 2022.
• Union FM Nirmala Sitharaman was the chairperson of the meeting, and it was the first to be planned so soon following the Budget 2023 presentation.
• With the finance ministers from the states and union territories, Shri Pankaj Chaudhary, the Union Minister of State for Finance, also attended the meeting (with legislatures).
• The GoM’s recommendations to improve revenue collection have received the Council’s support.
• The proposals involved:
• Eliminating the capacity-based levy.
• Allowing the export of such goods only against LUT with a refund of accumulated ITC.
• Imposing a compensation cess.
• Also, ministers have proposed new GST rates for pencil sharpeners and Raab.

48th GST Council Meeting Updates

• The 48th GST Council meeting was held virtually from New Delhi on Saturday, December 17, 2022.
• The 48th GST Council meeting was scheduled after a gap of 5–6 months.
• During the GST council meeting, e-commerce registration, offenses, and tribunal setup were discussed.
• Clarifications were given on a few taxation matters, such as the GST on equipment used by petroleum companies for exploration.
• E-commerce operators can allow registered suppliers and unregistered vendors to participate in the composition scheme, facilitating e-commerce for all micro enterprises.
• Cess on SUV at 22% clarified applicable if it meets four criteria:
• Popularly known as an SUV
• The engine capacity of more than 1500 cc
• Length more than 4000 mm &
• Ground clearance equal to or more than 170 mm
• Council clarified that no GST on insurance is levied on the No-claim bonus offered by insurance companies.

47th GST Council Meeting Updates

• The 28th and 29th of June 2022 are the 47th GST Council meeting dates, which will be held in Chandigarh.
• The discussion covered various important topics, including the modification of Form GSTR-3B, rate revisions and the withdrawal of exemptions, inversion adjustments, and IT-related measures.
• For the remainder of FY 2021–2022, those having threshold turnovers below Rs. 2 crores are still exempt from filing GSTR-9 and GSTR-9A.
• The deadline for issuing decisions relating to claims tied to the annual return due date under Section 73 of the CGST Act for FY 2017–18 has been extended until September 30, 2023.
• It made registration easier for e-commerce suppliers and helped them pay less taxes by allowing them to register under the composition system for intrastate supplies.
• Instead of the former extension of up to June 30 2022, GSTR-4 for FY 2021–22 will now receive a waiver of the late charge for submitting until July 28, 2022.
• The CMP-08 deadline for April–June 2022 (Q1 of FY 2022-23) has been extended from July 18–July 30, 2022.

46th GST Council Meeting Updates

• The 46th GST Council meeting was held on Friday, 31st December 2021, at Vigyan Bhavan in New Delhi.
• It was chaired by the Union Finance Minister Smt. Nirmala Sitaraman.
• The 46th GST council meeting ended with the decision in the GST slab rate on the textile sector.
• The decision said that the old 5% GST rate would be continued from 1st January 2022 on textile products while footwear products would be under the 12% slab category.

45th GST Council Meeting Updates

• The 45th meeting of the GST Council was held on 17th September 2021 in Lucknow.
• It was presided over by the Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman.
• The GST Council has issued the following proposals regarding amendments in GST law and procedure along with adjustments in GST rates on products and services:
1. Until December 31, 2021, the GST Council has extended the rebates on all COVID 19-related listed medications.
2. From January 1, 2022, two leading food delivery apps, Zomato and Swiggy, will be obliged to pay GST.
3. The GST Council has reduced the tax rate on cancer treatment medicines from 12 percent to 5%.
4. The GST Council has reduced the tax rate on biodiesel for mixing with diesel from 12 percent to 5%.
5. From January 1, 2022, the GST Council has agreed to fix the inverted duty structure on footwear and textiles.
6. At the 45th GST Council Meeting, it was announced that a group of state ministers (GoM) would examine rate rationalization concerns and submit recommendations in two months.
7. Restaurant services provided through e-commerce operators are subject to GST, which must be collected at delivery.
8. The 45th GST Council Meeting did not make a final decision on the proposal to tax petrol.

44th GST Council Meeting Updates

• This meeting was held under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman on 12th June via video conferencing at New Delhi.
• This virtual meeting is attended by the Union minister of state (MoS) for finance Anurag Thakur and finance ministers of states and Union territories (UTs) attended.
• The central idea was to finalize modalities to compensate states for their revenue shortfall of Rs 2.35 lakh crore in the current financial year.
• The attractive point was to reduce the GST rates on the items being used in Covid-19 relief and management like hand sanitizers, face masks, gloves, PPE Kits, temperature scanners, and others.
• Also, in the meeting, a decision takes place on relief regarding COVID-19 related individual items, which was based on the report of the Group of Ministers.

43rd GST Council Meeting Updates

• This meeting was held on 29th May 2021.
• In this meeting, the GST Council referred the decision over the tax rates on COVID vaccines to a group of ministers (GoM).
• The GST council took several decisions to help the industries affected by Covid-19.
• The Council had also decided to reduce the compliance burden of small taxpayers and medium-sized taxpayers.
• It recommended an amnesty scheme for reducing late fees payable to provide relief to small taxpayers.
• Due to the Covid-19 pandemic:
1. Pending GSTR-3B returns from July-2017 to April 2021.
2. Amnesty scheme could be from 1st June 2021 till 31st August 2021.

42nd GST Council Meeting Updates

• The 42nd GST council meeting was held on 5th October 2020.
• The GST Council met to decide on the compensation cess issues to various states under the GST.
• For taxpayers whose turnover is less than five crores from 1st January 2021, they have to file GSTR1 and GSTR3B quarterly.
• Assesses whose average turnover is more than five crores should write the HSN code at a six-digit level. In contrast, those whose average turnover is less than five cores should mention the HSN code at the four-digit level.
• From 1st January 2021, a refund will be given to those whose bank account validate with PAN and Aadhar.

41st GST Council Meeting Updates

• The 41st GST Council meeting took place on 27th August 2020.
• In 41st GST Council Meeting, it has been discussed that the shortfall for the Financial Year 2020-21 will be Rs 2,35,000 crore.
• Also, Rs 97,000 crore is the shortfall due to GST implementation, whereas the rest is considered as due to COVID-19.
• The states can borrow money with the G-security linked interest rates without any hurdles. The states will get loans at similar rates.
• If these states burn with bond yield, then the states will get loans at the same rates. Thus, it is good to run the process to get loans at the same rates.
• The government agrees that this is not the right time to discuss tax rates.
• The government considered the idea of 0.5% in the borrowing limit. Under the FRBM Act, states can choose to borrow more because of the COVID-19 injury.
• The total compensation paid for GST for April-July 2020 will be Rs 1.5 lakh crore. This is because there was a rare collection of GST in April and May. The annual compensation for GST requires around Rs 3 lakh crore and the collection for cess is Rs 65000 crore, creating a difference of Rs 2.35 lakh crore.

40th GST Council Meeting Updates

• The 40th GST Council meeting was held on 12th June 2020 via video conferencing.
• The government also provided some relief for small taxpayers (with no liability) by removing the late fee for GSTR 3B filing.
• Small taxpayers with a turnover of up to Rs 5 crore, who filed late GST returns in February, March and April 2020, have been reduced to 9% with effect from July 6, 2020, from 18% earlier.
• No late fee/interest will be charged from small taxpayers with a turnover of up to Rs 5 crore if they successfully file Form GSTR-3B for supplies for May, June and July up to September 2020.

39th GST Council Meeting Updates

• The 39th GST Council meeting happened on14th March 2020 in New Delhi.
• Know your supplier plan came into existence.
• Aircraft MRO Service GST rate reduced to 5%.
• GSTR-1, GSTR-2A and GSTR-3B filing extended till September 2020.
• Changed the dates for filing GSTR-1 before 10th for turnover above Rs 1.5 crore and before 13th for turnover less than Rs 1.5 crore. GSTR-2A reconciliation is now fixed on the 14th of every month.

38th GST Council Meeting Updates

• The 38th GST Council meeting was held on 18 December 2019.
• The deadline for filing GSTR 9 and GSTR 9C for 2017-18 has been extended to 31 January 2020.
• ITC claimed on a provisional basis in GSTR 3B reduced to 10% from 20% earlier.
• The deadline for filing GST returns has been extended till 31 December 2019.
• Late fee waived off on filing GSTR 1 by 10 January 2020.

37th GST Council Meeting Updates

• The 37th GST Council meeting was held in Goa on the 20th of September 2019. Union Finance Minister Smt. Nirmala Sitharaman chaired the meeting of this council.
• The GST rate on many products and services was brought in at the 37th GST Council meeting.
• Taxpayers will be exempted from filing annual returns for MSMEs for FY 2017-18 and FY 2018-19.
• GSTR 9 filings done optionally for taxpayers with turnover up to 2 crores.

36th GST Council Meeting Updates

• The 36th GST council meeting happened via video conference on 27th July 2019.
• The rate of GST on all-electric vehicles is now 5 percent less than the 12 percent applicable from 1st August 2019.
• Electric vehicle chargers also came down to 5 percent from the earlier rate of 18 percent.
• Electric buses with an occupancy capacity of more than 12 people are exempted from GST. The rates will be applicable from 1st August 2019.
• The due date for filing GST Form CMP 02 has been extended from 31.07.2019 to 30.09.2019.
• The due date for filing GST Form CMP 08 Self-Assessment Tax for the time period April 2019 to June 2019 has now been extended to 31st August.

35th GST Council Meeting Updates

• The 35th GST Council meeting was held in New Delhi on 21 June 2019 after a long gap of more than three months.
• The new GST return system gets a nod from GST Council.
• The fitment committee will expect a cut in the GST rate on electric vehicles in the next council meeting.
• The effective date for denial of e-way bill generation has been extended to 21 August 2019 if the GST return has not been filed for more than two months.
• The GST Council has approved the proposal to introduce e-invoicing.
• The GST Council has given the State and Territory-based GST Appellate Tribunal (GSTAT). With this change, some states can now have more than one GSTAT.
• The GST Council has extended the last date for filing GSTR 9, 9A and 9C till 31 August 2019.
• Non-payment of profiteering fee will attract a penalty of 20% for non-payment of profiteering amount within 30 days.

34th GST Council Meeting Updates

• The 34th meeting of the GST Council was held on 19 March 2019 in New Delhi.
• The council decided to have a rate as low as 5 percent on non-affordable properties and 1 percent on affordable housing schemes applicable to under-construction properties.
• If the builder wishes to claim ITC, the old rate of 12 percent on non-affordable and 8 percent on affordable housing schemes can be opted for till 10 May 2019.
• If the builder opts for the new rate, i.e., 5 percent on non-affordable and 1 percent on affordable housing schemes, it will provide no ITC.
  

33rd GST Council Meeting Updates

• The 33rd GST Council meeting was to be held on 20th February 2019.
• The GST rate on under-construction properties has been reduced from 12 percent to 5 percent. However, no input credit will be available to builders on such transactions.
• GST rate on affordable housing scheme reduced from 8 percent to 1 percent.
• Properties valued above Rs 45 lakh will be levied with a GST rate of 5 percent, equivalent to the under-construction property tax rate.

32nd GST Council Meeting Updates

• The 32nd meeting of the GST Council was held on 10 January 2019 in New Delhi.
• In this 32nd meeting of the GST Council, some amendments were made in the GST rules, in which
• Kerala is allowed to levy disaster cess for two years for the rehabilitation of states.
• Revised GST rate of 6 percent applicable to Composition Scheme service providers having turnover up to 50 lakhs per annum.
• The threshold limit has been increased from 20 Lakh to 40 Lakh, excluding Kerala and Chhattisgarh on their own.

31st GST Council Meeting Updates

• The 31st GST council meeting was held on 22nd December 2018.
• Some major decisions took place on rate reduction on multiple items coming under a higher 28% slab rate in this meeting.
• Also, multiple items and services were reduced from the higher GST rate to a lower rate.

30th GST Council Meeting Updates

• The 30th GST Council meeting was held on 28th September 2018.
• The meeting revolved around the administerial progress made in the GST system.
• A panel was formed to analyze and research the GST collection across the states.
• Also, there was a discussion on the 1% tax on commodities in Pan India.

29th GST Council Meeting Updates

• The 29th GST council meeting was held on 4th of August 2018 (i.e Saturday) in New Delhi.
• 20 per cent cashback on online B2C transactions via BHIM, RuPay and UPI
• A ministerial panel consisting of 6 members for MSME issues

28th GST Council Meeting Updates

• The 28th GST council meeting was scheduled on 21st of July, 2018.
• The meeting has decided on some changes in the tax rate slab and rate deductions on some items.
• Imported urea GST reduced to 5 per cent
• E-books GST reduced to 5 per cent
• Discussion based on the MSME sector and its hurdles in 29th GST council meeting
• Penalty waived off for taxpayer registration and date extended till 31st August
• GST rate for petrol and diesel Ethanol reduced to 5 per cent
• Option for composition scheme for those having a 10 per cent share in annual turnover offered as services
• Composition Scheme threshold limit increased (1 Crore to 1.5 Crore)
• Regular taxpayer turnover limit increased up to 5 crores for quarterly filing and 5 crores for monthly filing
• RCM provision nullified for 1 year
• The GST registration threshold limit is increased up to 20 lacs (earlier it was 10 lacs) for northeastern states.
• Textile industry to get refunds back from ITC paid

27th GST Council Meeting Updates

• The GST Council held the 27th GST Council Meeting on May 4th, 2018, over video conferencing.
• As per 27th GST council meeting, B2B dealers get to see entire turnover and invoice details
• Only one return per month provision excluding composition scheme dealers and NIL transactions
• GSTR 3B and GSTR 1 filing to be continued
• GSTN entity to be divided in 50-50 percent ration between the centre and state government

26th GST Council Meeting Updates

• The 26th GST Council Meet was held on 10th March 2018 at Vigyan Bhawan, New Delhi.
• The reverse charge mechanism extended for three months.
• The main concern is E Way Bill, Simple Return Filing, GSTR 3B Deadline Extension, Composition Scheme.
• The generation of e-way bill of interstate movement of goods will apply from 1st April.
• The implementation of the e-way bill in the Intrastate is scheduled to be from 15th April and to be divided into four states per rollout.
• Filing returns date extended for three months and GoM to look for IT issues.

25th GST Council Meeting Updates

• The 25th GST Council Meet was held on 18th January 2018 in Vigyan Bhawan, New Delhi.
• Finance Minister India Arun Jaitley says “necessary to build some anti-evasion measures” He considered the GST e-way bill one of them
• Arun Jaitley mentioned that 15 states to apply intrastate GST e-way bill on the same date i.e. on 1st February 2018
• GSTR 3B return filing to be continued till further announcement
• 40 handicrafts tax slab will be decided in the coming few days by the council
• The tax rate reduction on all the items and services will be applicable from 25th January 2018
• Items re-considered under 18% slab rate from 28% tax rate
• Uttarakhand FM cleared that 29 handicrafts items were reduced to 0% GST
• GST Council holds 35,000 crores for distribution among centre and states as an IGST collection dividend

24th GST Council Meeting Updates

• The 24th GST Council meeting which took place on 16th December 2017 through video conference under the Chairmanship of the Union Minister of Finance and Corporate Affairs Mr Arun Jaitley.
• The nationwide e-way Bill system will be ready to be rolled out on a trial basis latest by 16th January 2018.
• The Rules for implementation of nationwide e-way Bill system for Inter-State movement of goods on a compulsory basis will be notified with effect from 1st February 2018.

23rd GST Council Meeting Updates

• GST Council held its 23rd GST Council meet on 10th November 2017.
• GST council decides to increase the threshold limit of composition scheme taxpayers which was earlier 1 crore to now 2 crores.
• The service supply exemption is now 5 lakhs per annum.
• The tax rates for traders and manufactures is now 1 percent on taxable goods leaving restaurant under composition to normal.

22nd GST Council Meeting Updates

• GST Council held its 22nd GST Council meet on 6th October 2017.
• The government has recognized hardship faced by small businesses with a turnover of within Rs 1.5cr.
• Services provided by a GTA to an Unregistered person shall be exempted from GST.
• TDS/TCS provisions shall be postponed till 31.03.2018.
• Refund cheques for July exports will be processed by Oct 10 and refund cheques for August exports will be processed by Oct 18.
• A person otherwise eligible for availing the composition scheme and are providing any exempt services shall now be eligible for the composition scheme.
• Eligibility of composition scheme raised to Rs 1 crore.
• Traders will pay 1%, manufacturers 2% and restaurants 5% under the composition scheme.
• Due date of FORM GSTR-4 for the quarter July-September, 2017 is extended to 15th November 2017

21st GST Council Meeting Updates

• The 21st meeting was inaugurated in Hyderabad on 9th September 2017.
• The key changes in GST rates had come into effect for services provided by a local authority and the government authority, the rate reduced from 18% to 12%.
• The due dates for filing GSTR-1, GSTR-2, GSTR-3 had been extended to 10th October (for the businesses, turnover crossing Rs. 100 Crore the due date would be 3rd October 2017), 31st October, 10th October respectively.
• The extension of GSTR-3B placed to December 2017 and registration under composition scheme extended to 30th September.

20th GST Council Meeting Updates

• The 20th GST Council meeting held on 5th August 2017.
• The meeting decides to kick start Anti profiteering mechanism, the final draft of E way bill presentation, job work decided to tax under 5% GST rate, government given work contract taxed at 12 % GST rate and GST rates for certain services were revised.

19th GST Council Meeting Updates

• The 19th GST Council meeting held on 17th July 2017.
• It is the first meeting to be held after GST implementation.
• The council decided to raise the cess on cigarettes to 31% in a certain category.

18th GST Council Meeting Updates

• The 18th meeting held on 30th June 2017.
• It is a day just before the GST roll out.
• The GST rate on fertilizers was reduced from pre-decided 12% to 5%.
• The tax rate on exclusive parts of tractors was reduced to 18% from 28%.

17th GST Council Meeting Updates

• The 17th GST council meeting held on 18th June 2017.
• In the meeting, officials extended the deadline for return filing until September.
• The e-waybill rules were discussed and postponed for further.
• The council also modified rates of luxury hotels and lottery tickets run by state authority to be charged at 12% whereas the ticket by a private authority to be charged at 28% GST.

16th GST Council Meeting Updates

• On 11th June 2017, the sixteenth meeting took place with a rate revision of 66 items out of 133 and ended with the finalization of accounting rules.

15th GST Council Meeting Updates

• The 15th meeting was held on 3rd June 2017. The major decision of GST roll out on 1 July was unanimously accepted and pending rules including returns and transition provisions approved by the GST Council.

14th GST Council Meeting Updates

• In the 14th meeting held on 18th May, the GST rates on goods and GST compensation cess rate got approval.

13th GST Council Meeting Updates

• The 13th meeting held on 31st March.
• The rules on registration, return, payment, refund, debit, credit, and invoices got approval.
• The four rules were discussed on the topic of input tax credit rules, valuation rules, transitional provisions, and composition rules.

12th GST Council Meeting Updates

• The 12th GST council meeting was held on 16th March 2017.
• In the meeting, many key decisions and approvals had taken place.
• The council had approved the state GST bill & union territory bill and the council fixed 15% cess rate for certain demerit items.
• Also, the council had given the approval to form a committee to look into the meta permit issues and the five draft laws were sent to cabinet and parliament for acceptance.

11th GST Council Meeting Updates

• The 11th GST Council Meeting held on 4th March 201.
• The council had finalized the important CGST and SGST bills.
• It was anounced that hotels with a turnover below 50 lakh would pay the lowest tax of 5%.

10th GST Council Meeting Updates

• The 10th GST council meeting took place on 18th February 2017.
• In the meeting, the compensation law was finally approved.

9th GST Council Meeting Updates

• The 9th GST council meeting held on 16th January 2017.
• In the meeting, the dual control issues had been resolved and the council decided that 90% of the assesses with turnover below or equal to 1.5 crores would be investigated by the state government and 10% by the central government.
• In case of assesses with the turnover of more than 1.5 Crore the Centre and the State would scrutinize in 50:50 ratio.

8th GST Council Meeting Updates

• The 8th GST council meeting was scheduled on 3-4 January 2017.
• The GST council had decided that the cess would be levied on a list of items mentioned by GST council.
• Also, at the end of five years of GST the cess would be added to GST rates to divide it between the Centre and the states.

7th GST Council Meeting Updates

• The 7th meeting of GST Council was held on 22-23 December 2016.
• The draft model bills on State and centre GST legislation passed and dual control issue was discussed but remained inconclusive.

6th GST Council Meeting Updates

• The 6th meeting of GST Council was held on 11 December.
• The council had discussed the model GST laws regarding CGST and SGST in detail.
• The council had pronounced till 99 sections out of 197 sections.

5th GST Council Meeting Updates

• The 5th meeting was held on 2-3 December 2016 with no deferred conclusion.

4th GST Council Meeting Updates

• The 4th meeting of GST council was held on 3-4 November 2016. The four slab rates were decided (which includes 5%, 12%, 18% and 28%).
• Also, the additional cess above 28% would also be discussed to levy on sin goods and luxury items.

3rd GST Council Meeting Updates

• The 3rd meeting was held on 17-18-19 October 2016.
• In the meeting, the GST rates and slabs discussion were taken place but no decision could not be made.

2nd GST Council Meeting Updates

• The 2nd meeting of GST council is held on 30 September 2016.
• In the meeting, the GST draft rules for registration, rules for payment, returns, invoice, refunds and total six issues had been finalized.
• The states were compensated for the loss and a fixed growth rate was fixed at 14%.
• Also, all the exempted entities under indirect tax were considered to pay tax in the new GST regime.

1st GST Council Meeting Updates

• The 1st meeting of GST Council was held on 22-23 September 2016.
• The meeting is held with the determination to roll out GST on 1 April 2017.
• It was two-day meeting, accessed by 29 states and 2 union territories and headed by Finance Minister Arun Jaitley.
• The main agenda of the meeting was to decide regulation under composition scheme and charge 1-2% tax which would be less than the GST rates from traders with a gross turnover of up to Rs. 50 lakh.
• Some of the issues were also discussed regarding the GST rates and threshold limit to pay taxes.

Disclaimer:- All the information given in this blog is from reliable and authentic sources and has been written in my own words for your understanding. Any change in description or information other than fact should be considered a human error.