Key Highlights from the 50th GST Council Meeting

On July 11^th, 2023 GST council held its 50^th meeting and agreed to provide the relaxation and measures to facilitate smooth functioning of trade and measures for streamlining compliances in GST.

Below are the following recommendations made in the meeting:

1. Changes in GST Tax Rates:

The Department has decided to reduce the GST tax rate for notified goods and services. Click Here for the list of goods and services and their revised rates.

2. In relation to Casino, Horse Racing and Online gaming:

The council has decided the following:

Necessary amendments in law will be done to include Casino, Horse Racing and Online gaming under actionable claim;
All these services will be taxed at 28% to bring uniformity;
Tax rate computation will be on face value of chips purchased in the case of casinos, on the full value of the bets placed with bookmaker/ totalisator in the case of Horse Racing and on the full value of the bets placed in case of the Online Gaming.

3. Relaxation for facilitation of trade:

Relaxation provided in earlier FY 2021-22 in relation to various tables of Form GSTR-9 and GSTR-9C is extended to FY 2022-23 as well.
No GSTR-9 or GSTR-9A, if business turnover is up-to Rs. 2 crores.
Extension of Amnesty scheme: The time limit for availing Amnesty scheme has been extended till August 31, 2023. This scheme was for non-filer of form GSTR-4, Form GSTR-9 & GSTR-10 and revocation of cancellation of registration.
In relation to warranty, no GST is chargeable by the manufacturer on such replacement of parts and/ or repair service as it is without consideration under warranty period and also, no reversal of Input tax credit (ITC) is required by manufacturer.
In case of taxable services by or through an ECO or by a supplier of OIDAR services to an unregistered recipient, that the ECO and OIDAR need to collect only name of state instead of name and full address of recipient.
Under 50th GST Council Meeting, Department has decided to extend the special procedure in relation to mismatch in ITC availed in Form GSTR-3B v/s ITC available in GSTR-2A for the FY 2019-20, FY 2020-21 and 9 months of FY 2021-22 i.e., Dec 31, 2021.
Special procedure will be notified for manual filing of appeal against the orders passed by proper officers in respect of TRAN-1/ TRAN-2 claims of the registered persons.
Further, Rule 108(1) and rule 109(1) of CGST Rules, 2017 to be amended to provide for manual filing of appeal under certain specified circumstances.

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