INSUBCONTINENT EXCLUSIVE:
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
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
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
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
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
