DCM requests exemption of research grants from GST purview
NEW DELHI, 9 Sep: Arunachal Pradesh Deputy Chief Minister Chowna Mein has requested for exemption of research grants received by universities and institutions from the purview of GST, saying that “the nature of research grants may be treated as a subsidy, owing to its overarching impact on the welfare and benefit of the public, without leading to commercialisation or business.”
Mein said this while attending the 54th GST Council meeting, which was chaired by union Finance Minister Nirmala Sitharaman, and co-chaired by union MoS for Finance Pankaj Chaudhary at Sushma Swaraj Bhavan here on Monday.
The GST Council meet aims to streamline financial operations, improve compliance, and deliver broader benefits to the public by creating a more efficient and transparent tax system nationwide.
During the meet, Arunachal formally endorsed the minutes of the 53rd GST Council meeting and the decisions of the
GST Implementation Committee (GIC) regarding deemed ratification. The state also supported the recommendations of the Law Committee, Fitment Committee, and IT Grievance Redressal Committee, particularly the proposed adjustments to GST rates for goods and services.
Furthermore, in a bid to streamline financial transactions, Arunachal has also integrated UPI, credit card, and debit card payment options. The state also expressed support for the B2C e-invoicing pilot project, which is anticipated to simplify invoicing processes and improve efficiency.
The state also backed the proposal for enhanced data sharing to optimise GST compliance and supported the exemption of individual health insurance premiums and pure-term individual life insurance policies, including their reinsurance.
The meeting was attended also by the chief ministers of Goa and Meghalaya, the deputy chief ministers of Bihar, Madhya Pradesh, and Telangana, as well as finance ministers from various states and union territories, along with senior officers from both union and state governments. (DCM’s PR Cell)
