New Delhi: GST Council on Saturday reduced the Goods and Service Tax on liquid jaggery, pencil sharpeners, and certain tracking devices, Union Finance Minister Nirmala Sitharaman said. Briefing media after the 49th meeting of the GST Council, the minister also informed that reports of the GoM (Group of Ministers) on checking tax evasion by pan masala and gutkha industry, and on Goods and Services Tax Appellate Tribunals (GSTATs), have been taken on board.
She further said all the GST compensation dues will be cleared, including Rs 16,982 crore for the month of June. (Also Read: SBI vs PNB vs HDFC vs BoB: Latest Home Loan Interest Rate Compared)
The finance minister further said the GST Council has decided to rationalise late fees on the filing of annual GST returns after the due date. (Also Read: SBI vs HDFC vs ICICI vs PNB vs BoB: Savings Accounts Minimum Balance and Penalty Charges Compared)
Finance ministers of states and UTs (with legislature) and senior officials of Union Government and states participated in the meeting.