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ARTICLE · 03 JANUARY 2025

55th GST Council Meeting – Highlights

Lakshmikumaran & Sridharan
Lakshmikumaran & Sridharan
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Lakshmikumaran & Sridharan

Lakshmikumaran & Sridharan

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The 55th GST Council Meeting was held in Jaisalmer on 21 December 2024. The Council has recommended on number of issues including on rate of tax on various goods and services...

IndiaTax
Lakshmikumaran & Sridharan Attorneys
Lakshmikumaran & Sridharan Attorneys
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The 55th GST Council Meeting was held in Jaisalmer on 21 December 2024. The Council has recommended on number of issues including on rate of tax on various goods and services, measures for facilitation of trade and for streamlining compliances, and various other measures pertaining to law and procedures. Few of the important measures/changes as recommended by the Council and stated in the Ministry of Finance Press Release are highlighted below.

Rate of tax

  • Accommodation service by hotels to be taxed @ 18% with ITC (with effect from 1 April 2025) if the ‘value of supply' exceeded INR 7,500 for any unit of accommodation in the preceding financial year, and 5% without ITC otherwise – Definition of declared tariff to be omitted

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