The Union Finance Minister Nirmala Sitharaman presided over the 53rd meeting of the GST Council today (22nd June 2024) at New Delhi with Revenue Secretary and CBIC Chairman. The Minister has stated that the unaddressed agenda item will be scheduled for the Mid/End August Meeting.
Regarding the significant expectation of online gaming taxation, the Finance Minister clarified that it was not on the agenda, resulting in no major decisions being made. This could potentially setback the industry.
However, at the onset of the meeting, the Finance Minister indicated that there was a sufficient agenda, and due to time constraints (with only half a day available) as the pre-budgets were also going on, they were unable to table all items, prioritising immediate compliance-related concerns instead.
The FM said that ‘…. Considering the meeting was only half a day, some agenda were taken up, a considerable number for today. But even as we concluded today we acknowledge the fact that we have ready agenda points which we could not take up today for want of time which we will take up in the next meeting. And therefore it was also decided keeping in mind, one or two matters of urgency, which the states also had in their mind to hold GST meeting at the earliest after today. Which will be sometime post the budget session or may be sometime of middle of August or before the August, the next meet will happen, where the agenda which we couldn’t complete today, it wasn’t tabled also, just to let you know that there was enough agenda, some of them got to discussed today, the rest which could not be put on the agenda list will be carried forward to the next”.
Thus, the next GST council meeting will be conducted as early as possible after the Budget and in the middle or end of the august.
Also read: 53rd GST Council Meeting: Key Highlights
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