The GST Council is now meeting after 7 months.
GST Council Meeting on 28th May: The next GST Council meeting (GST Council) will be held on 28 May. The 43rd meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman, will be through video conferencing to discuss policy related to Kovid at the request of Finance Ministers of the State Governments.
New Delhi. The next GST Council meeting will be held on 28 May. The 43rd meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman, will be through video conferencing to discuss policy related to Kovid at the request of Finance Ministers of the State Governments. Finance Minister Nirmala Sitharaman informed about this meeting on her official Twitter account. The meeting was held 7 months ago Let us know that the meeting of the GST Council is now being held after 7 months. Earlier, the GST Council met in October 2020. The GST Council may have to decide on the fiscal support sought by the states due to the damage caused by the coronavirus epidemic in the meeting to be held on May 28. Also read- Now getting free insurance cover of Rs 7 lakh on EPFO account, know how to get its benefits?These issues can be decided With the demand for fiscal support by the states, a decision is also likely to be taken on FY22 GST compensation i.e. GST compensation compensation and GST rate. Let us tell you that in FY21, the Central Government had agreed on a financing method to compensate for the decrease in GST revenue. In the upcoming meeting, it may be decided whether to continue it for FY22 or not. The central government has already given relief in import duty on medical supplies and vaccines related to Kovid. The demand of the states is to give such relief to the vaccine produced locally. However, Finance Minister Nirmala Sitharaman has said earlier that giving tax credit to the manufacturers will harm the common consumers.
Also read- this 33-year-old man became a millionaire in 4 months by investing money in Dogecoin! Learn Success Trick Demand for tax relief on vaccine Let us tell you that the Central Government of Odisha Chief Minister Naveen Patnaik has demanded to provide fiscal support to the states and provide relief in tax on the vaccine. Naveen Patnaik wrote in his letter that states should be given relief from GST in buying vaccines for people between 18 and 45 years. This will put less burden on the states and allow everyone to get vaccinated. The state government is seeking a share in the cess from the central government, which the central government imposes on various products and services to increase its revenue. This is an important reason for differences between the central government and the states in the GST Council.