48th GST Council Meeting | Analysis of Recommendations | Taxmann's Indirect-tax Research and Advisory

Download or read book 48th GST Council Meeting | Analysis of Recommendations | Taxmann's Indirect-tax Research and Advisory written by Taxmann Publications and published by Taxmann Publications Private Limited. This book was released on 2022-12-22 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The GST Council held its 48th meeting and recommended several amendments and clarifications under the GST law. These recommendations covered a wide range of topics, including: • Measures to ensure payment of tax by suppliers or reversal of input tax credit (ITC) by recipients in cases of mismatches in Form GSTR-1 and GSTR-3B of the supplier • Filing restrictions on GST returns/statements • Decriminalization of offences under GST • Clarification on several practical issues • Exemptions from GST for certain types of residential dwellings and incentives paid to banks • GST rates on various goods Taxmann's Advisory and Research team has analyzed these recommendations in detail and shared its views on the implications of these changes. Read Taxmann's Analysis to know more!