The GST Council’s 48th meeting was held in Delhi on December 17, 2022 under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the recommendation that incentive paid to banks by Central Government under the scheme for promotion of RuPay Debit Cards and low value BHIM-UPI transactions are in the nature of subsidy and thus not taxable.
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1884399
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