Union Finance Minister Nirmala Sitharaman chaired pre-Budget consultations with the finance ministers of states and Union Territories, gathering their perspectives. This was followed by the 53rd meeting of the GST (Goods and Services Tax) Council.
The GST Council decided to exempt services related to hostel accommodation outside educational institutions up to ₹20,000 per person per month, provided the student has stayed in the hostel for at least 90 continuous days. This condition is intended to prevent hotels from exploiting the exemption.
Additionally, the Council exempted GST on the purchase of railway tickets and payments for waiting room and cloak room charges. Services such as battery-operated vehicles and intra-railway services will also not incur GST.
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The GST Council recommended waiving interest on penalties for tax demand notices and set a uniform GST rate of 12 percent on milk cans.
During the pre-Budget meeting, Minister Sitharaman emphasized the Centre’s commitment to supporting states through timely tax devolution and clearing GST compensation arrears to foster growth. She encouraged states to utilize the scheme offering a 50-year interest-free loan from the Centre for implementing specified reforms.
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