Team Blitz India
NEW DELHI: The GST Councilproposed exemption for specific services offered by Indian Railways to the general public, as well as for intra-railway transactions.
The sale of platform tickets and services such as retiring rooms, waiting rooms, cloakroom facilities, and battery-operated car services are now exempt from GST.
Finance Minister Sitharaman said, “The GST Councilmeeting had taken a lot of decisions on trade facilitation, easing compliance burden and relief to tax payers in terms of compliance easing out.”
Among these, significant measures were taken to facilitate trade and simplify processes for businesses and individuals alike.
TheGST Councilrecommended waiving interest penalties on demand notices issued under Section 73 of the GST Act for fiscal years 2017-18, 2018-19, and 2019-20.
This section pertains to cases not involving fraud, suppression, or misstatement. Taxpayers who pay the full tax amount demanded in the notice by March 31, 2025, will benefit from this waiver.The Council approved an extension for availing input tax credit (ITC) on any invoice or debit note.
For returns filed up to November 30, 2021, the deadline for ITC claims for the fiscal years 2017-18, 2018-19, 2019-20, and 2020-21 is now deemed to be November 30, 2021.
To curb government litigation, the Council recommended setting monetary thresholds for filing appeals by departments: Rs 20 lakh for the GST appellate tribunal, Rs 1 crore for high courts, and Rs 2 crore for the Supreme Court.
