45th GST Council Meeting TOMORROW; here is what to expect from FM Nirmala Sitharaman
The 45th GST Council Meeting, chaired by Union Finance Minister Nirmala Sitharaman will be held at Hotel Taj in Lucknow on Friday, September 17, at 11 am.
The 45th GST Council Meeting will be held at Hotel Taj in Lucknow on Friday, September 17, at 11 am. The meeting will be headed by Union Finance Minister Nirmala Sitharaman.
Finance ministers of all the states across the country will attend the meeting. Here are the major points which can be discussed and announced after the GST Council Meeting.
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1. Announcement possible on GST compliance and common GST e-portal.
2. Announcement related to pharma sector.
3. The GST Council could also discuss the modalities of continuation of compensation cess beyond June 2022.
4. The GST Council might consider taxing petrol, diesel and other petroleum products under the single national GST regime, a move that may require huge compromises by both central and state governments on the revenues they collect from taxing these products.
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5. GST Council may discuss treating food delivery apps such as Zomato and Swiggy as restaurants and levy 5 per cent GST on supplies made by them.
6. The council may consider extending the time for duty relief on Covid-19 essentials.
It can be noted that this is the first time in 20 months that the GST Council will have a physical meeting. The last such meeting was on December 18, 2019, before the Covid-19 induced lockdowns.
The previous Council meeting was held via videoconferencing on June 12 during which tax rates on various Covid-19 essentials were reduced till September 30.
Goods and services tax rates were slashed on Covid-19 drugs such as Remdesivir and Tocilizumab as well as on medical oxygen, and oxygen concentrators other Covid-19 essentials, as per a report by PTI.
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