GST Council: Significant changes have been made regarding GST. The government has decided to exclude facilities such as purchasing platform tickets at railway stations, using dormitories, waiting rooms, cloakrooms, and battery-operated vehicles from GST. These services provided by the railways will not be subject to GST.
Additionally, hostel facilities will also be exempt from GST. The government has decided to exclude hostels run by specific communities from GST as well. If an individual stays continuously for three months, they will benefit from this exemption. There is also a proposal to set the GST rate on milk cartons at 12 percent. This major announcement was made by Finance Minister Nirmala Sitharaman following the 53rd GST meeting.
12% GST recommended on milk cartons
Finance Minister Nirmala Sitharaman presided over the 53rd GST Council meeting held in Delhi on Saturday. After the meeting concluded, she briefed reporters and announced the Council’s proposal to levy a uniform GST rate of 12 percent on all milk cartons. This decision will result in applying new rates to containers made of steel, iron, aluminum, or any other material used in milk packaging.
The Council has also recommended imposing a uniform GST rate of 12 percent on all carton boxes, corrugated and non-corrugated paper or paperboard. This decision is expected to greatly benefit apple farmers in Himachal Pradesh and Jammu and Kashmir. According to Finance Minister, the GST Council has clarified and proposed applying a 12% GST on all types of sprinklers, including firewater sprinklers.
Nirmala Sitharaman will present the full budget soon
Central Finance Minister Nirmala Sitharaman is set to present the full budget of the new government in July, conducting consecutive meetings in preparation. On February 1, 2024, due to the Lok Sabha elections, Nirmala Sitharaman had presented the interim budget. There are high hopes across all sectors from the financial budget of 2024-2025. Now, it remains to be seen what emerges from the government’s treasury.
