Nirmala Sitharaman chairs 48th GST Council meeting

Category : Business and economics Published on: December 20 2022

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Union finance minister Nirmala Sitharaman on Saturday chaired the 48th meeting of the GST Council.
The Finance Minister informed in the press conference that the meeting had 15 items on its agenda out of which seven items couldn't be taken up.
Private refiners will also be allowed a concessional 5 percent GST rate similar to oil marketing companies (OMCs) for blending ethanol with petrol to provide a level playing field.
GST Council gave a nod on decriminalising certain laws and also extended the threshold for prosecution to Rs 2 crore.
The 48th GST Council meeting holds significance as it is the last before the Union Budget which will be tabled in Parliament on February 1, 2023.