Summary
The 53rd GST Council meeting, chaired by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitaraman was held on 22nd June 2024. The council focused on several recommendations to ease taxpayers’ burden of compliance, from allowing changes in GSTR-1, relaxation in availing ITC and waiving various interests and penalties to amending various Sections and rules and rationalizing the rates of goods and services under the GST ACT to streamline compliance and support business operations. Additionally, the meeting recommended issuing circulars on various regulations to clarify the law, ensuring no misinterpretations or confusion in trade compliance and facilitation.
Please refer to our e-book for detailed insight into the council meetings and valuable comments on how these changes will impact businesses.
eBook authored by CA Ashish Chaudhary & CA Krunal Shah
About Ashish Chaudhary
Ashish is a Chartered Accountant with over 15 years of experience serving large Indian and multinational conglomerates, providing consultation, audit, and representation services in Indirect Taxation. . He currently heads the North India operations from the NCR branch of HNA & Co LLP. He specialises in domestic indirect taxation with hands-on experience in Middle East VAT.
About Krunal Shah
Krunal Shah has been working with Cygnet as a tax tech consultant from over 4 years. He has a decade of experience and has excelled in indirect tax/GST and tax-tech consulting roles. His expertise lies in providing valuable insights and solutions to clients in navigating complex tax regulations and leveraging technology to streamline processes.