Key Highlights from the 53rd GST Council Meeting*

Key Highlights from the 53rd GST Council Meeting**

On June 22, 2024, the 53rd GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, addressed several significant issues affecting taxation and public services in India. Here are the key announcements and decisions made during the session:

**1. GST Rate on Milk Cans:**
Finance Minister Nirmala Sitharaman announced a uniform GST rate of 12% for all milk cans, regardless of whether they are made of steel, iron, or aluminum. This move aims to streamline taxation in the dairy sector.

**2. Petrol and Diesel under GST:**
The council reiterated its intent to bring petrol and diesel under the GST regime, pending consensus among states on the applicable tax rate. This decision could potentially simplify indirect taxation and fuel pricing mechanisms in the country.

**3. Indian Railways Services:**
In a bid to ease financial burdens on passengers, the council approved GST exemption on platform tickets for Indian Railways services. This exemption is expected to provide relief to millions of daily commuters and travelers.

**4. Aadhaar-Based Biometric Authentication:**
To tackle fraudulent practices like fake invoicing and illicit input tax credit (ITC), the council approved the nationwide rollout of Aadhaar-based biometric authentication. This measure is aimed at enhancing tax compliance and reducing tax evasion.

**5. Reduction in GST for Carton Boxes:**
Recognizing the importance of packaging in various industries, the council decided to reduce the GST rate on carton boxes from 18% to 12%. This reduction is set to benefit manufacturers and consumers alike, promoting affordability and competitiveness.

**6. Exemption for Hostel Accommodation:**
Services related to hostel accommodation outside educational institutions were exempted from GST up to Rs 20,000 per person each month. This exemption is expected to alleviate financial burdens on individuals residing in hostels across the country.

These decisions reflect the council's ongoing efforts to rationalize GST rates, enhance tax compliance measures, and provide relief to various sectors of the economy. As India continues to navigate economic challenges and reforms, these developments are crucial steps towards a more efficient and transparent taxation system.

Stay tuned for further updates as these decisions are implemented and their impact unfolds across industries and consumers nationwide.

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