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The 53rd Goods and Services Tax (GST) Council met in Delhi under the Chairpersonship of Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, on Saturday (June 22). The council recommended taxes on items such as milk cans and solar cookers and announced some relief for students living in certain kinds of rented accommodation. It also reduced the GST on cartons from 18% to 12% to provide relief to apple farmers in Himachal Pradesh and Jammu and Kashmir. The GST regime came into force after the Constitutional (122nd Amendment) Bill (101th Constitutional Amendment Act) was passed by both Houses of Parliament in 2016. More than 15 Indian states then ratified it in their state Assemblies, after which then-President Pranab Mukherjee gave his assent. It came into effect in 2017 and was billed as an attempt to simplify the existing tax structure in India, where both the Centre and states levied multiple taxes, and to make it uniform. In this video we discuss about how the body (GST Council) functions and why it matters.
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23 июн 2024
