54th GST Council Meeting LIVE: New GoM on Insurance GST Rate Reduction Formed, To Submit Report by October-End

54th GST Council Meeting LIVE Updates: Even as the 54th meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman, is over at around 6 pm, the finance ministry is holding a press conference today to announce the decisions. The meeting took place on Monday at Sushma Swaraj Bhawan in New Delhi.

According to Moneycontrol, there is a ‘broad consensus’ in the GST Council meeting on reducing insurance premiums, but modalities will be decided in the next council meeting. A CNBC-TV18 report said Uttarakhand Finance Minister Premchand Aggarwal said the 54th GST Council meeting has not decided anything on taxing small digital transactions. He said, “No decision taken on recommendations to levy 18 per cent GST on payment aggregators on income from transactions under Rs 2,000.”