New Delhi: The GST Council has voted to lower the tax rates on ethanol, which is sold to refineries for blending with motor spirit, from 18% to 5%. (petrol). This will encourage blend efforts even more, lessen reliance on imported crude, and conserve foreign exchange. The decisions were made at the 48th GST Council meeting in New Delhi, which was presided over by Finance Minister Nirmala Sitharaman. Additionally, the GST Council resolved to change the tax rate on pulse husk, including chilka, from 5% to 0%.
The Council also decided to raise the minimum threshold for filing tax-related criminal charges and decriminalise a number of offences that fall under the GST statute. With the exception of false invoices, the cap has been doubled from one crore to two crore rupees. The following offences were identified as candidates for decriminalisation: obstructing an officer from performing his responsibilities, purposefully tampering with tangible evidence, and failing to provide information.
After the GST Council meeting, Ms. Sitharaman addressed the media and stated that the GST Council was unable to debate the taxes of gutkha and tobacco. She said that the formation of the GST tribunal was not discussed at the meeting.