New Delhi
Many important announcements have been made today on Monday in the 54th meeting of the Goods and Services Tax (GST) Council. The GST Council has referred the matter of imposing 18% GST on merchant fees for transactions less than ₹ 2000 to the Fitment Committee. Currently, payment aggregators are exempted from paying GST on transactions of less than Rs 2,000. During the meeting, Uttarakhand Finance Minister said that GST on pilgrimage has been reduced to 5%.
Meanwhile, it is reported that the decision to impose GST on insurance premium has been postponed in the council meeting. This matter will be considered in the next meeting. It is reported that the GST Council has formed a group of ministers to examine in detail the GST rate on health insurance policy. The 54th meeting of the GST Council is currently going on under the chairmanship of Union Finance Minister Nirmala Sitharaman.
