[PDF] 53rd GST Council Meeting Press Release PDF in Hindi & English

The GST Council made significant decisions during its 53rd meeting. Firstly, it waived interest and penalties for demand notices issued under section 73 of CGST for fiscal years 17-18, 18-19, and 19-20, excluding cases involving fraud, suppression, and misstatement. Taxpayers who pay the full amount by March 31, 2025, can benefit from this waiver.

Secondly, the time limit to avail Input Tax Credit (ITC) for invoices or debit notes under section 16(4) in any GSTR-3B filed up to November 30, 2021, will be deemed as November 30, 2021, retrospectively. Additionally, the Council recommended monetary limits for filing appeals before legal fora, aiming to simplify the process. Lastly, a uniform GST rate of 12% was proposed for all milk cans and carton boxes, regardless of material.

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• Interest and Penalties Waived: The GST Council waived interest and penalties for demand notices issued under section 73 of CGST (applicable for fiscal years 17-18, 18-19, and 19-20) for cases not involving fraud, suppression, and misstatement. Taxpayers paying the full amount by March 31, 2025, can benefit from this.
• ITC Time Limit: The time limit to avail Input Tax Credit (ITC) for invoices or debit notes under section 16(4) in any GSTR-3B filed up to November 30, 2021 (applicable for fiscal years 17-18, 18-19, 19-20, and 20-21) may be deemed to be November 30, 2021 retrospectively.
• Appeals Monetary Limits: The recommended monetary limits for filing appeals by the department before legal fora are Rs.20 lakh for GST Appellate Tribunal, Rs.1 crore for High Court, and Rs.2 crore for Supreme Court. The pre-deposit amount for filing appeals will also be reduced.
• Other Amendments: Various amendments were proposed, including extending the time limit for furnishing details in GSTR-4 for composition taxable persons, introducing GSTR-1A for amendments, and more.
• Uniform GST Rates: A uniform GST rate of 12% was recommended for all milk cans (regardless of material) and all carton boxes and cases (both corrugated and non-corrugated paperboard).