53rd GST Council Meeting | What are Key Highlights By FM Nirmala Sitharaman? | PW OnlyIAS

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Rate Changes: Adjustments were made to GST rates for certain goods and services to address industry concerns and revenue implications.
Compliance Measures: Introduction of new compliance measures to streamline processes and reduce tax evasion.
Tax Exemptions: Certain items received tax exemptions or lower GST rates to benefit specific sectors and consumer interests.
E-invoicing Threshold: The threshold for mandatory e-invoicing was revised to include more businesses, ensuring better compliance and transparency.
Compensation Cess: Discussions on extending the compensation cess to support states’ revenues post-GST implementation.
Procedural Simplifications: Steps were taken to simplify filing processes and reduce the compliance burden for small and medium enterprises (SMEs).
GST Appellate Tribunal: Progress on establishing GST Appellate Tribunals to resolve disputes efficiently.
IT System Enhancements: Improvements to the GSTN portal for a more user-friendly experience and better handling of technical glitches.
Sector-Specific Reliefs: Targeted reliefs and incentives for sectors impacted by the pandemic or economic downturn.

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