NITYA Insight | 50th GST Council Meeting
The GST Council concluded its 50th Meeting on July 11, 2023. The Council made many significant changes to streamline taxation, trade facilitation and ensuring better compliance.
The Council has proposed several amendments that will have a profound impact on landscape of GST law. Some of the prominent recommendations include taxation of Casino, Horse Racing & Online gaming at 28 percent on full bet value, notification of provisions relating to the GST Appellate Tribunal by August 1, 2023 etc.
The Council has further proposed issuance of multiple Circulars on long-standing disputed issues like ISD vs. Cross-charge, Cross-charge methodology, goods & services used during warranty period, refund related issues etc.
We are pleased to enclose booklet ‘NITYA Insight | 50th GST Council Meeting’ containing our insight on various recommendations of GST Council.
Hope you find this an interesting read! Please feel free to share your comments / feedback.