By GST Council Meeting today: All you need to know about agenda, expectations
The most important agenda of today’s meeting will be a waiver of tax on various medicines, medical equipment and health services. Many states are expected to ask the Council to provide waivers on key medical equipment and Covid vaccines in the wake of the unprecedented health crisis.
The finance ministers of at least eight states including Punjab, Tamil Nadu, Chhattisgarh and Kolkata are expected to raise the issue of GST waiver on Covid-related equipment and drugs.
It is worth mentioning that the compensation shortfall to states is expected at around Rs 1.6 lakh crore during the current fiscal year, most of which are likely to be funded by borrowings.
Many states may ask for a correction in the inverted duty structure, especially in key sectors such as fertiliser, steel utensils, solar panels, tractors, tyres, textile, cloth and more.
Latest News and updates, Follow and connect with us on Facebook, Twitter, and Linkedin
Get the latest updates directly on your mobile, save and send a message at +91-9899909957 on Whatsapp to start
