FM Proposes Minimum Threshold Monetary Limit For GSTAT, High Courts And Supreme Court: 53rd GST Council Meet
The 53rd GST Council meeting happened on June 22, 2024, in New Delhi, nearly eight months after the last one. The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, chaired the 53rd GST Council.The Union Finance Minister, Niramala Sitharam, has proposed the Minimum Threshold Monetary Limit for Goods and Service Tax Appellate Tribunal (GSTAT), High Courts, and...
The 53rd GST Council meeting happened on June 22, 2024, in New Delhi, nearly eight months after the last one. The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, chaired the 53rd GST Council.
The Union Finance Minister, Niramala Sitharam, has proposed the Minimum Threshold Monetary Limit for Goods and Service Tax Appellate Tribunal (GSTAT), High Courts, and Supreme Court.
The Finance Minister has set a minimum threshold limit of Rs 20 lakh for GSTAT, Rs 1 crore for high courts, and Rs. 2 crore for the Supreme Court.
The Finance Minister has clarified that if the disputed amount is below Rs 20 lakh, then the department would not be able to file an appeal in the Appellate Tribunal and order of Commissioner would attain finality.