50th GST Council Meeting will be held on 11th July 2023; Know Details

The GST Council will have its 50th meeting on July 11, 2023, in Vigyan Bhawan in New Delhi. The GST Council, which is chaired by the Union Finance Minister and includes representatives from all states and union territories, is India’s highest decision-making body for indirect taxes.

“The GST Council’s 50th meeting will be held on the 11th of July, 2023 at Vigyan Bhawan, New Delhi,” the GST Council announced in a tweet on Thursday.

Important issues that may be discussed:

GST Council would most likely discuss the subject of GST on cement at its 50th meeting. Aside from that, it is likely to take up the issue of the GST rate to be paid on online gambling, GST rate revision for Multi Utility Vehicles (MUVs), etc.

In its 49th GST Council meeting in February, the council resolved to cut the GST rate on pencil sharpeners from 18% to 12%. It also voted to decrease the GST rate on liquid jaggery from 18% to 5%, as well as the tax rate on certain tracking gadgets.

GST Tribunal

The GST appellate tribunal’s operating structure is also anticipated to be approved by the Council. The 49th GST Council meeting in February agreed, with minor changes, the report of a panel of state ministers to establish GST Appellate Tribunals. The tribunal will handle tax issues and speed up settlement.

In each state, a four-member appellate tribunal is planned to streamline and accelerate the dispute settlement procedure for goods and services tax (GST). Each state appellate tribunal would include two technical members (one from the central and one from each of the states) and two judicial members.

A national appeal tribunal will also be established in Delhi, with one judicial member and one technical member.