The 54th GST Council: Major Announcements On Key Reforms In Tax, Health Insurance, And More

#nirmalasitharaman #gstcouncilmeeting #gst #54gstcouncilmeeting #taxrefunds
The 54th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, is currently underway in New Delhi, with key discussions focused on various fiscal proposals. According to Sources, Among the major topics being debated are the Rs 1.37 lakh crore compensation cess shortfall, a possible GST rate cut on metal scrap, and tax relief for foreign entities. Additionally, a decision on the taxation of online gaming liabilities has been deferred, while suggestions have been made to hike GST on car seats from 18% to 28%. The Council is also examining proposals to lower GST on health insurance premiums from 18% to 5%, with potential revenue losses estimated between Rs 645 crores and Rs 3,495 crores.

#GSTCouncil #GSTMeeting #FiscalProposals #GSTUpdates #CompensationCess #GSTRateCuts #TaxRelief #IndiaEconomy
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