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Research Paper | Law | India | Volume 13 Issue 6, June 2024 | Popularity: 5.2 / 10

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Plugging Loopholes: GST Council Meeting to Focus on Enforcement

Ajay Kumar

Abstract: The July 11th and August 2nd, 2023 GST Council meetings in India resulted in significant changes impacting various industries. These decisions affect businesses operating in India through a combination of tax rate adjustments, exemptions, and a focus on strengthening GST implementation. A major point of contention is the 28% GST rate levied on online gambling, horse racing, and casinos. This has caused concern among online gambling operators. Positively, the healthcare sector benefits from an exemption on imports of essential pharmaceuticals. This exemption presents a welcome advantage for businesses in this industry. Overall, the recent GST Council meetings brought about a mixed bag of changes for Indian businesses. While some sectors face tax hikes, others benefit from exemptions. The emphasis on stricter GST implementation is another key takeaway, potentially impacting businesses across the board.

Keywords: GST, India, Group of Ministers (GoM), Measures, Trade, Facilitation, e - commerce, OIDAR Services, e - way Bill, Recommendations, Strengthening, GST implementation

Edition: Volume 13 Issue 6, June 2024

Pages: 1484 - 1490

DOI: https://www.doi.org/10.21275/SR24626100334

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