48th GST Council Meeting: Key Highlights

No tax increase has been declared on any item today

Both GoM Reports on Pan Masala, Gutka and GSTAT to be discussed in Next Meeting

No Claim Bonus offered by Insurance Companies does not attract GST

Threshold limit of for launching of GST offences increased to Two Crores except in case of fake invoices.

Decriminalized certain offences of Obstruction of services by officers, failure to supply information etc.

GST rate on "ethyl alcohol supplied to refineries for blending with motor spirit (petrol)" has been reduced from 18% to 5%.