47th GST Council Meeting: Know the Key Decisions
The 47th GST Council Meeting was held in Chandigarh on 28th and 29th June 2022. Here is the List of Key Decisions Taken.
The E-Way Bill applicability for Intra-State Movement of Gold to be Decided by the States.
GST Council to meet again on 1st August to decide on the establishment of the GST Appellate Tribunal and Group of Ministers (GOM) has been created for the same.
Now Online Retailers below 40 Lakhs are not required to get GST registration for Intra-State Transactions.
GST Portal Reforms
Council approved Report of GoM suggesting IT reforms
GST Cess Collection
GST Cess Collection will be used for Repayment of the Loan till 2026. GoM on Rate Rationalization Extended for Three more Months. Also, GST Compensation Cess for States shall continue.
GST Rate Changes
Rate Changes on Certain Items Approved, will be Implemented from 18th July.
GST Rate on Casinos, Online Gaming
No Decision on GST Rate for Casinos, Online Gaming. GST Council to again meet on 1st August to decide Tax on Casinos.