07/10/2023
1. | Here are the recommendations of the 52nd GST Council meet,
2. | GST Council likely to have approved proposal of Fitment committee to reduce rates where Millets flour >70%; to be now taxed at 5%,
3. | GST Council approves to exempt Extra Neutral Alcohol (both Grain-based and molasses-based) used to manufacture alcoholic liquors from GST,
4. | GST council likely to have approved a reduction in GST rate on molasses to 5%,
5. | GST Council likely to have agreed on the proposal on corporate/bank guarantees by holding/subsidiary co and by directors/ promoters,
6. | GST Council likely to have agreed on 18% GST on Corp Guarantee by holding cos proposal & On personal guarantee by Promoters against bk loans,
7. | GST Council clears proposal of having an Amnesty for appeal filing till Jan 2024,
8. | GST council likely to give clarity for taxation of data centres, suggest Data centre services to be treated as export and not subject to GST in case of overseas customer.
