Nirmala Sitharaman press conference on GST council meeting

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47th Council meeting concludes on 4 GoM reports

Nirmala seetharaman Finance minister , explained the 4 GoM reports .Its already a 47th meeting based on GST.

4GoM reports are
1) Rate rationalisation group - headed by Basawaraj Bommai ,Chief Minister of karnataka
Tabled that 2 things one about exemption and the other is about correction of invertion both are taken up and acception and the other one they need on extension to tabled.

2)Betting,Gambling,Horse racing,Lottery - headed by Cornad kongkal sangma ,chief minister of meghalaya noted that the discussion about going about the casino .Finance Minister of Goa went into the great details of it.The casino ,gamling and online gamings come under the part of betting. All taxed at 28%.Based on 2 judgement of supreme court on lotto and actionable claims.
     Reconsider this again in the 1st week of august,the stake holders submit that again in july 15th.

3)IT related and technology - headed by deputy chief minister of Maharashtra on IT reforms on further improvement in GST and use of AI an ML technologies.we have better data for purposes ,feeling that the data about generating fake invoices bills is coming up suddenly and vanishing that should be processed and the risk based models will be developed,and the risky based checks will done before the registration process.
   6 recommendations accepted.New process will be developed and come up with utilities,use the GST. Network with AI and ML which will develop the utilities better will come that already have.

4)Movememt of precious metals - headed by K.N Balagopal submitted that the precious metals particularly gold ,whether the number of the aadhar card of the transporter will have to be given,who will take care from one area or within the state to another and so on. On this basis , it will be left to the state whether the number of the aadhar card of the transporter or any other ,because its precious as reported.


Intrest to read about money inflation in India here...
http://information-auto.blogspot.com/2022/07/money-inflation-and-its-causes.html

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