GST Council retains current tax rates, offers relief on multiple fronts

The GST Council, chaired by Finance Minister Nirmala Sitharaman, concluded its meeting without restructuring the main tax slabs. Instead, it announced a series of measures providing relief to various sectors and taxpayers. Key decisions included waiving interest and penalties on tax demand notices issued between 2017 and 2020. The Council also exempted services like hostel accommodation and railway platform tickets from GST. These moves aim to reduce litigation and address specific taxpayer grievances under the current rate framework.