DIMAPUR — Nagaland minister of Power and Parliamentary Affairs and member to the Goods and Services Tax (GST), KG Kenye, has strongly supported the views of the Union Finance minister and chairperson of GST Council to exempt all research grants or donation from government and private agencies to central and state governments, union territory, local authority or government entities and private entities from GST.
Kenye stated this during the 54th meeting of the GST Council held on September 9 in New Delhi. He was accompanied by Abhinav Shivam, commissioner of Taxes, and Y Mhathung Murry, special commissioner of Taxes, an update from PRO to the minister stated.
During the meeting, the members have ratified notification and circulars issued by central government and decision of the GST implementation committee. It also discussed and considered issues recommended by the law committee for amendments.
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Besides, the members have discussed and considered recommendations of the fitment committee on rationalisation of the GST rates on some goods and services.
The members also agreed to insertion of Section 128A in the NGST Act, 2017 to provide for conditional waiver of interest and penalty relating to demands raised u/s 73 for the year 2017-18, 2018-19 and 2019-20. All the states are asked to carry out the legislation or through ordinance by November 1, 2024.
The GST compensation cess levy was decided to be continued beyond FY 2024-25 and well into FY 2025-26.
The progress status of second all India drives for fake registration was reviewed, wherein around 30% cases were settled. It impressed upon the states and union territories to complete the exercises within two months and identify the masterminds, if any.