The GST Council concluded its 52nd Meeting on October 7, 2023. The Council proposed significant changes to streamline taxation and trade facilitation. Some important recommendations include taxation of Personal / Corporate Guarantees provided by Directors / Related Persons, taxability of ENA used in manufacture of liquor, introduction of Amnesty Scheme for delay in filing of appeals, eligibility of Advocates for appointment as Judicial Members to GSTAT etc.

We shared 1st Edition of our booklet on October 9, 2023, covering all such recommendations and we hope you found it informative and useful.

Recently, Government issued multiple notifications and clarifications with respect to said recommendations including on issues like valuation of Personal / Corporate Guarantees provided by Directors / Related persons, benefit of zero-rating to supplies made to SEZ units & developers on payment of tax, place of supply of certain services etc.

We are pleased to enclose 2nd edition of our booklet ‘NITYA Insight | 52nd GST Council Meeting – 2nd Edition’ containing our insight on various recommendations of GST Council, notifications and clarifications issued thereafter (highlighted in green for ease of reference) and our analysis of their impact on industry.

NITYA Insight I 52nd GST Council Meeting – 2nd edition

Hope you find this an interesting read! Please feel free to share your comments / feedback.