54th GST Council Meeting Outcome Explained In 5 Minutes With Pros & Cons Discussed | Key Takeaways!

The outcome of the 54th GST Council Meeting, which was chaired by Finance Minister Nirmala Sitharaman, can be summarized as follows: A Group of Ministers (GoM) has been assigned to prepare a report on rate rationalization. Online gaming revenue has witnessed a significant increase of 412% in the last six months. The GoM has also been tasked with presenting a report on the real estate sector. Furthermore, a status report on online gaming and casinos was presented. Two new GoMs will be formed to focus on medical and health insurance. The council meeting deliberated on the compensation cess and a committee of secretaries will determine the future course of action for Integrated Goods and Services Tax (IGST). Universities under state and central governments will now be eligible for Research and Development (R&D) funds and will be exempt from income tax and GST payments. The GST rate on specific cancer drugs has been reduced from 12% to 5%. Lastly, a report on income tax is expected to be released by the end of October.

#gst #gstcoucilmeeting #goodsandservicestax #taxation #etnow #businessnews #topnews #nirmalasitharaman #financeminister

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[bebewang.]

Remove Nirmala from India, save India!!!!

[krishnaprasad]

finance minister is inventing new taxes on every product, increasing taxes and taxing every item. FM is making life miserable by not giving any benefits to the taxpayer.

[raghavendravishwas]

Nirmala Hatao Indian middle class Bachao

[krishnamoorthysarma]

Such GOI initiative will makes states think positive

[ajay]

She is actually working as rubber stamp, all things are coming from PMO she is just reading it in the meetings & in front of media. Make Subramaniam swamy as FM. Otherwise Modi, BJP & RSS mukat bharat. Corporates are enjoying lowered from 35% to 25% Corporate tax and other exemption in loans & taxes and middle class are suffering.

[redemptionneeded]

Car seats raised to 28% - WTF!!! - already taxes are so much on buying vehicles - these people instead of reducing - keep looking at squeezing from the people -

[rahulk]

Impose GST and other taxes on everything that a middle-class family uses or requires to survive. I see no results in favour of the middle class, such a waste

[anandanp]

Subramaniasamy BJP MP correctly said about this lady

[krishnamoorthysarma]

As a GOI initiative Center from it's side must reduce Petrol rate by 50 paisa and diesel by 30 paisa after getting council consent

[asokeghosh]

Nirmala madam please add GST on disel and petrol.

[davidkeller]

One gst bracket for all items maam please.
All those items that were outside tax bracket [hotel rooms below 1000], have been included within gst.
Beg, pray pls reconsider 🙏🏻🙏🏻🙏🏻

[narayanaswamys]

This ka. daroli, if died, South India will survive.. As after Jayalalitha, Tamilnadu is more calm after her death.. She herself telling that she is from Tamilnadu.. Married, Parakal Prabahar, an Andhrapradesh man. But, she take decision as FM in favor of RSS persons in politics, namely, Damodaradaas and Jaisha's father, working as HM, in Union Government..

[polisettibaburao]

Taxes తగ్గించడం ద్వారా కూడా tax కలెక్షన్స్ పెరిగే అవకాశం వుంది.

[vadirajarao]

Madam Mrs N Seetharam please resolve the much awaited eps pension issue as the image of Modiji is on the wake and we want to become more stronger.

[venkatvure]

GST on specific cancer and other important drugs should be zero.

[KMUSHA-rxof]

B'lore belongs to kannadigas, the result of division politics by congress. Speak in tamil in tamil nadu, speak in english in tn schools. Division politics. dmk try to split tn.

[themboys]

She will shift GST to other places 😂😂.