GST Council Meet 2021: The 45th GST Council meeting will be held today in LucknowGST Council Fulfilling 2021: The 45th products and services tax (GST) Council conference will be held today, chaired by Financing Minister Nirmala Sitharaman in Lucknow, which is most likely to go over bringing petrol and diesel under the ambit of indirect tax and also pick GST rate reduction on COVID-19 important medications.

This is the first on-ground GST Council conference to be performed in practically 20 months, as the last such meeting was held in 2019, before COVID-related limitations were imposed in the country.

(Also Read: 45th GST Council Meeting: What Experts Anticipate )45th GST Council Meeting 2021: Here's what's on GST Council Fulfilling's Agenda for today: 1.

Addition of gas, diesel under the ambit of GST: The GST Council today is likely to go over the idea of bringing petrol and diesel within the ambit of the GST.

On June 21, the Kerala High Court released a directive on the writ petition filed by the Kerala Pradesh Gandhi Darshanavedhi that fuel and diesel need to be consisted of in GST, as fuel rates touched record-highs this year.

The Kerala High Court's instruction mentioned that the addition of gas, diesel under GST must be taken a look at by the GST Council.

The GST Council is most likely to talk about levying GST on petroleum crude, high speed diesel, motor spirit (gas), natural gas and air travel turbine fuel (ATF), according to sources.

However, Kerala Financing Minister K N Balagopal and Maharashtra Deputy CM Ajit Pawar have actually stated that they are totally against any concept to consist of gas, diesel under GST.

2.

Extension of GST Rate Reduction on COVID-19 necessary medicinesThe 45th GST Council is likely to talk about extending the GST rate reduction from 12 per cent to 5 percent on 4 crucial medications needed for the treatment of COVID-19 - Tocilizumab, Amphotericin B, Remdesivir and anti-coagulants such as Heparin-- till December 31, 2021.

The rate decrease on these medications are currently valid till September 30, 2021.

(Likewise Read: GST Council Cuts Rates On COVID Supplies, No Tax On Black Fungi Medicine )Earlier in the year, the GST Council decreased tax rates on medical grade oxygen, oxygen concentrator/generator, ventilators, ventilator masks/ canula/ helmet, among other related medical devices from 12 percent to five percent - based upon the recommendations of group of ministers - made up at the 44th GST Council conference to ponder on the tax rates of COVID-related important products.3.

GST settlement shortage to states after June 2022 periodThe GST settlement of Rs 1,13,000 crore have actually been launched to states because April 2020.

the quantity in the GST payment fund is not adequate to satisfy the full compensation requirement due to the fact that of COVID effect on GST and GST Cess collection, according to sources.

The GST Council today might consider choices that exist to offset the GST settlement shortage.4.

Addition of food serving shipment services under GSTThe GST Council is most likely to go over a proposal to treat food serving, preparation and food shipment services (including takeaway, door delivery services) as restaurant service .

These services might draw in a five percent GST, according to sources.Also.

if the GST Council authorizes the proposal, significant food delivery apps such as Zomato, Swiggy, to name a few, will be covered under the five percent GST slab.