- Recent GST Council meeting in India is crucial for shaping the nation’s fiscal future
- Decisions made will impact various sectors such as packaging, insurance, and cross-border transactions
- Implementation of e-invoicing for B2B transactions for businesses with turnover exceeding Rs.5 crore
- No changes in GST rates for online gaming, aiming for consistency in tax policy
- Extension of GST Compensation Cess until March 2026 to address states’ revenue shortfalls
- Meeting reflects a strategic recalibration to balance growth and fiscal responsibility
- Reduction in GST rates for corrugated packaging and considerations for insurance premiums were notable changes discussed
Source: apacnewsnetwork.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
