{"id":841,"date":"2023-03-20T09:29:01","date_gmt":"2023-03-20T09:29:01","guid":{"rendered":"https:\/\/www.gstrobo.com\/kc\/news\/?p=841"},"modified":"2023-07-12T08:24:48","modified_gmt":"2023-07-12T08:24:48","slug":"key-takeaways-from-49th-gst-council-meeting","status":"publish","type":"post","link":"https:\/\/www.gstrobo.com\/kc\/news\/key-takeaways-from-49th-gst-council-meeting\/","title":{"rendered":"Key takeaways from 49th GST Council Meeting"},"content":{"rendered":"\n<p>The 49th GST Council Meeting was held on February 18, 2023. the following are the key takeaways from the meeting:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The government of India has decided to clear the entire pending balance GST compensation of&nbsp;\u20b916,982 crore for June 2022.<\/li><li> Approval of the Report of GoM on capacity-based taxation and special composition scheme in certain sectors on GST.<\/li><li> The time limit for making an application for revocation of cancellation of registration be increased from 30 days to 90 days.<\/li><li> Amendment to Section 62 of CGST Act, 2017 to extend timelines under sub-section (2) thereof and one-time amnesty for past cases.<\/li><li> The council recommended rationalizing the late fee for delayed filing of annual returns in FORM GSTR-9 for FY 2022-23 onwards.<\/li><li> Courts and tribunals services to be taxed under RCM- Renting of courts\/tribunals premises for commercial use will be subject to RCM taxation.<\/li><li> Amnesty in respect of pending returns in FORM GSTR-4, FORM GSTR-9, and FORM GSTR-10.<\/li><li> The council recommended rationalizing the provision of a place of supply for services of transportation of goods by deletion of section 13(9) of the IGST Act, 2017.<\/li><\/ul>\n\n\n\n<p>For a more detailed account, <a href=\"https:\/\/www.gstrobo.com\/resources\/forty-nine-gst-council-meeting-was-held-on-eighteen-february-two-thousand-twenty-three.pdf\">click here<\/a>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 49th GST Council Meeting was held on February 18, 2023. the following are the key takeaways from the meeting: The government of India has decided to clear the entire pending balance GST compensation of&nbsp;\u20b916,982 crore for June 2022. Approval of the Report of GoM on capacity-based taxation and special composition scheme in certain sectors &hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[301,166],"class_list":["post-841","post","type-post","status-publish","format-standard","hentry","category-news-updates","tag-49th-gst-council-meeting","tag-gst-council-meeting"],"_links":{"self":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/comments?post=841"}],"version-history":[{"count":2,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/841\/revisions"}],"predecessor-version":[{"id":843,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/841\/revisions\/843"}],"wp:attachment":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/media?parent=841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/categories?post=841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/tags?post=841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}