Finance Minister Nirmala Sitharaman said on Saturday that the entire GST compensation cess for June 2022 totalling Rs 16,982 crore will be cleared.
She said this while addressing a press conference soon after the 49th meeting of the GST Council ended.
She also informed that Rs 16,524 crore to six states which have submitted the accountant general's (AG) certificate will also be released.
Delhi, Tamil Nadu and Telangana are among the six states which have submitted AG certificates.
Though submission of AG certificate is a requirement for the states to seek GST compensation, Sitharaman said that it wasn't a strict pre-requisite, as 90 per cent of funds are anyway released to the states, while the remaining amount is given after the AG certificate is submitted.
The GST Council meeting, which was held at Vigyan Bhavan here, discussed matters pertaining to setting up of appellate tribunals and curbing tax evasion in pan masala and gutkha businesses.
The groupf of ministers' (GoM) report on taxation for pan masala was accepted by the council.
At the meeting, the GST Council decided to reduce GST on pencil sharpeners and certain tracking devices. Exemption on coal rejects supplied by and to the washeries was also approved by the Council. Also, GST on a type of liquid jaggery has been reduced to nil from 18 per cent if sold loose. If its pre-packaged and labelled, the tax rate on it would be 5 per cent.
The GST Council also recommended rationalisation of late fee for delayed filing of annual returns.
However, no decision could be arrived at by the fitment committee for SUVs and MUVs.
Sitharaman said that the GST Council decided to tax services supplied by courts and tribunals under the reverse charge mechanism.
She also informed that the decision on the GST Appellate Tribunal has been accepted with change in language and the modification in draft will be circulated within a week.
Sitharaman said that she expects to finalise the GoM report on GST tribunals with slight modifications so that it is ready by March 1 and can be included in the Finance Bill.
The GoM's report on online gaming could not be taken up at the meeting as the Chairman of the GoM, Meghalaya Chief Minister Conrad Sangma, could not attend the meeting due to the upcoming Assembly elections in the state, the Finance Minister said.
Manipur: Security forces nab eight militants with arms, ammunition
In a series of successful joint operations, Assam Rifles, in coordination with Manipur Police, apprehended eight hardcore militants from different locations of three districts in the violence-hit state, officials said on Wednesday.
Tripura’s unemployment ratio less than national average, says CM Saha
Of the 2,806 candidates, 2437 multi-tasking staff (Group-D) would be posted in 37 departments while 369 pharmacists and laboratory technicians would be posted in the health and other departments, Saha said and termed the day in providing government jobs as historic.
PM Modi presenting NE region as ‘Astalakshmi’: HM Amit Shah
Union Home Minister Amit Shah on Wednesday said that Prime Minister Narendra Modi, considering the huge development and enormous resources of the eight northeastern states, is presenting the region before the country as ‘Astalakshmi’.
BJP set to storm back to power in Delhi after 27 years: Exit polls
A poll of seven exit polls predicted 42-49 seats for the BJP in the Assembly election to end its 27-year jinx, signalling an end of Arvind Kejriwal’s winning streak in Delhi after three back-to-back victories. The final results will be declared on February 8.
India's gold investments surge 60 pc to Rs 1.5 lakh crore in 2024: Report
Gold investments in India saw a significant surge in 2024 with a rise of 60 per cent in value terms to reach $18 billion (approximately Rs 1.5 lakh crore) compared to 2023, according to a report on Wednesday.
Fate of 699 candidates sealed as voting for Delhi polls ends
A total of 1.5 crore eligible Delhi voters sealed the fate of 699 candidates in the Assembly election on Wednesday to pick a new 70-member House with the turnout hovering around 60 per cent till reports last came in at 6 p.m., an official said.
PM Modi condoles demise of eminent philanthropist and spiritual leader Prince Karim Aga Khan
Calling him a visionary who dedicated his entire life to service and spirituality, Prime Minister Narendra Modi on Wednesday condoled the demise of noted billionaire philanthropist and spiritual leader Prince Karim Aga Khan IV.
57.70 per cent voter turnout recorded in Delhi Assembly polls
Voting to pick a new 70-member Delhi Assembly continued peacefully on Wednesday as the turnout touched 57.70 per cent till 5 p.m. with the ruling AAP eyeing a fourth straight win and the BJP putting up a tough fight to return to power after 1998.