9 Major Announcements from FM Nirmala Sitharaman at the 53rd GST Council Meeting

Finance Minister Nirmala Sitharaman declared several noteworthy measures at the 53rd GST Council meeting, which took place on June 22, 2024

The country would implement Aadhaar biometric authentication to prevent fraudulent input tax credit claims using fake invoices. The goal of this program is to improve tax compliance


All milk cans, regardless of material, will have a consistent GST rate of 12%. This action harmonizes these products' tax status


The central government plans to introduce petrol and diesel under the GST regime, pending state consensus on the tax rate, aiming for uniform fuel taxation


The council approved the GST exclusion on platform tickets, lowering the cost of rail services and relieving customers of some of their financial load


The GST rate was lowered from 18% to 12% on various carton box types, which helped businesses and customers by bringing down the overall cost of necessary packing materials


Hostel accommodation services outside educational institutions are exempted from GST up to ₹20,000 per person per month, making it more affordable for non-student residents


For the Financial Year 2024–2025 and beyond, small taxpayers have an extended deadline from April 30 to June 30 to provide details and returns in GSTR 4


The GST Council proposed suspending interest and penalties for non-fraudulent cases under Section 73 of the GST Act, making compliance easier for taxpayers


The department has set monetary criteria for submitting appeals, including ₹20 lakh for the GST Appellate Tribunal, ₹1 crore for the High Court, and ₹2 crore for the Supreme Court


Visit famous India To Discover More Visual Stories