The GST Council has recommended a uniform rate of 12 percent GST on all steel, iron, and aluminium milk cans. It has also reduced GST rates to 12 percent on all carton boxes and cases of both corrugated and non-corrugated paper or paperboard. Finance Minister Nirmala Sitharaman, speaking to the media after the 53rd GST Council meeting held today in New Delhi, also announced that services provided by the Indian Railways to the common man, including the sale of platform tickets, facility of retiring rooms and waiting rooms, and battery-operated car services, will not attract any GST.
Ms. Sitharaman also said that there is going to be a rollout of biometric-based Aadhaar authentication on an all-India basis. This will help the government combat fraudulent input tax credit claims made through fake invoices. The Minister said that to help small taxpayers, the Council has recommended extending the time limit to furnish details and returns in the form GSTR-4 from 30th April to 30th June.
Ms. Sitharaman also informed that the GST Council has recommended waiving interest and penalties for demand notices that have been issued under Section 73 of the GST Act, including cases not involving fraud, suppression, or misstatements. She said that for all those notices issued under Section 73 for the fiscal years 2017-18, 2018-19, and 2019-20, the Council has recommended waiving interest and penalties on the demand notices that have been served.
Disclaimer: This press release is sourced from News On AIR, Prasar Bharti and Press Information Bureau India (PIB).
