The 50th GST Council meeting chaired by the Union Finance Minister Nirmala Sitharaman is underway in New Delhi. The meeting is being attended by Minister of State for Finance Pankaj Chaudhary, Finance Ministers of States and UTs and Senior officials.

In February this year, the 49th GST Council met under the Chairpersonship of Union Minister for Finance and Corporate Affairs Nirmala Sitharaman in New Delhi. In that meeting, the government had decided to clear the entire pending balance GST compensation of 16 thousand 982 crore rupees for June 2022 to States and Union territories.

In its recommendations, the Council had also decided to lower the GST slabs for Rab, and pencil sharpener.