53rd meeting, GST Council recommended a uniform GST rate of 12% on all steel

Current Context: The 53rd GST Council meeting was held on June 22, 2024, in New Delhi. It was the first meeting after the new government formation and addressed various aspects of the Goods and Services Tax regime in India. 

• Here's a summary of the key takeaways:
• Tax Rate Changes and Exemptions:
• A uniform 12% GST rate was set for milk cans.
• GST on cartons used for packaging apples in Himachal Pradesh and Jammu and Kashmir was reduced to 12%.
• Relief for students: hostel mess services exempted from GST.
• Platform tickets for railway bookings remained exempt from GST.
• Easing Compliance Burden:
• Extension of filing deadline for GSTR-4 form for small taxpayers.
• Waiver of interest and late fees in non-fraudulent cases.
• Introduction of a phased rollout for Aadhaar-based biometric authentication to curb fake invoicing.
• Modifications to simplify GSTR-1 form.
• Reduced TCS (Tax Collected at Source) rate.

Question:

1 What was the uniform GST rate set for milk cans?

• A) 5%
• B) 12%
• C) 18%
• D) 28%

Answer: B) In the 53rd GST Council meeting, A uniform 12% GST rate was set for milk cans.