Home Business GST Council Meeting On February 18, Fitment Committee To Decide On Cement Rate Reduction

GST Council Meeting On February 18, Fitment Committee To Decide On Cement Rate Reduction

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CBIC Chairman Vivek Johri on Friday mentioned that the GST Council will meet on February 18. In accordance with information company ANI, Johri mentioned that the Fitment Committee will meet to determine on fee discount on cement as introduced by Finance Minister Nirmala Sitharaman.

 Presently, there may be 28 per cent GST on cement mentioned Vivek Johri.

In accordance with information stories, the agenda for the Council is to think about a report by the Group of Ministers (GoM) chaired by Meghalaya Chief Minister Conrad Sangma for levying GST on on-line gaming, casinos, and horse racing. The GoM has not been in a position to arrive at a consensus on the tax rules for these sectors, based on information stories.

This GoM report was to have been taken up for consideration by the forty eighth GST Council final December.

The Items and Providers Tax (GST) assortment for December month rose to Rs 1.5 lakh crore, the finance ministry mentioned on January 1. The GST collections for December had been up 15.2 per cent in comparison with December 2021, which was Rs 1.46 lakh crore. 

The GST collections in December had been 2.5 per cent increased than final month. In November, Gross GST collections stood at Rs 1.46 lakh crore. The GST collections have now exceeded the Rs 1.4-lakh crore mark for 10 months in a row.

The Ministry of Finance in its press launch mentioned that the gross GST income collected throughout December 2022 is Rs 1,49,507 crore, of which Central Items and Service Tax (CGST) is Rs 26,711 crore, State Items and Service Tax (SGST) is Rs 33,357 crore. 

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