The 54th GST Council meeting was held in New Delhi on 9th September 2024. The Council primarily focused on easing compliance, rationalising rates, and implementing changes and recommendations from the Finance Act 2024 and the 53rd GST Council meeting held in June of this year. These recommendations include the following:
‣ Granting Exemptions for Services to Various Sectors
‣ Rate Rationalisations for Various Products, Including Cancer Treatment Drugs, Extruded and Expanded Savory or Salted Products
‣ Clarifications of Ongoing Issues, such as ITC Eligibility on Demo Vehicles, Treatment of PLC under GST, and the Place of Supply of Services Provided to Foreign Affiliates
‣ Prescribing Mechanisms for the Implementation of Section 16(5), Section 16(6), and Section 128A
‣ Introduction of E-Invoicing for B2C Supplies
‣ Covering New Goods under Services under the Reverse Charge Mechanism
