KG Kenye and others at 54th meeting of GST Council at New Delhi on September 9.
Our Correspondent
Kohima | September 10
Nagaland’s Power & Parliamentary Affairs Minister K. G. Kenye & member to the GST Council from Nagaland attended the 54th Meeting of the GST Council at New Delhi on September 9
He was accompanied by Abhinav Shivam, Commissioner of Taxes Nagaland and Y. Mhathung Murry, Special Commissioner of Taxes.
Participating in the discussion, Kenye strongly supported the views of the Union Finance Minister Nirmala Sitharaman & chairperson of the GST Council that all research grants or donation from Govt and Private agencies to Central and State Governments, Union Territory, local authority or govt entities and private entities exempted under the IT Act, for research activities for public good should be exempted from GST.
RECOMMENDATIONS DURING 54TH MEETING OF GST COUNCIL
* GST Council recommends Group of Ministers (GoM) on life and health insurance related GST with existing GoM on Rate Rationalisation; to submit report by end of October 2024.
* GST Council also recommends formation of a GoM to study the future of compensation cess
* GST Council recommends to exempt supply of research and development services by a Government Entity; or a research association, university, college or other institution notified u/s 35 of Income Tax Act using government or private grants
* GST Council recommends reduction in GST rates on cancer drugs - Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 12% to 5%.
* GST Council recommends roll out of a pilot for B2C e-Invoicing.
