Finance Minister Nirmala Sitharaman to address press conference at 3 PM today.
States likely to raise the issue of taxation on online gaming, casinos and race course. The states would request the council to discuss the matter, say sources.
The Council to issue a clarification circular suggesting data center services to be treated as export and not subject to GST incase of overseas customer. The circular is likely to say data centers with contracts only for providing physical space on rent then GST to be applicable at 18%.
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The Council is likely to have agreed to levy 18% GST on personal guarantee given by promoters/directors against loans given by banks.
The Council is likely to have agreed to aligned terms and age limits with the Tribunal Reforms Act 2021.
Advocates with 10 years experience in indirect tax law practice are now eligible to apply for the Tribunal member post (judicial).
The age limit for President is now 70 years from earlier recommended at 67 years. While the age limit for members has been increased to 67 years.