https://www.taxtmi.com/article/detailed?id=13249 The Council recommended substantive GST reforms: forward charge for sponsorship services; exemption for insurer contributions to a motor accident fund; hotel/restaurant tax restructured by linking declared tariff to actual accommodation values with an elective higher-rate option and effect from 01.04.2025; exclusion of composition taxpayers from a recent reverse charge entry with retrospective regularization; multiple goods rate and exemption changes including fortified rice kernel, gene therapy and LRSAM components; and procedural measures spanning Track & Trace powers, voucher taxability clarifications, ITC reception on ex-works deliveries, ISD inclusion of inter-state RCM, reduced pre-deposit for penalty-only appeals, and Invoice Management System amendments. en-us Thu, 26 Dec 2024 11:10:42 +0530 Thu, 26 Dec 2024 11:10:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13249 The Council recommended substantive GST reforms: forward charge for sponsorship services; exemption for insurer contributions to a motor accident fund; hotel/restaurant tax restructured by linking declared tariff to actual accommodation values with an elective higher-rate option and effect from 01.04.2025; exclusion of composition taxpayers from a recent reverse charge entry with retrospective regularization; multiple goods rate and exemption changes including fortified rice kernel, gene therapy and LRSAM components; and procedural measures spanning Track & Trace powers, voucher taxability clarifications, ITC reception on ex-works deliveries, ISD inclusion of inter-state RCM, reduced pre-deposit for penalty-only appeals, and Invoice Management System amendments. Articles Goods and Services Tax - GST Thu, 26 Dec 2024 11:10:42 +0530 https://www.taxtmi.com/article/detailed?id=13249