New Delhi. The important meeting of the GST Council will be held on 12 June. In this meeting to be chaired by Finance Minister Nirmala Sitharaman, a decision can be taken regarding reduction in GST rates on essential commodities related to the coronavirus pandemic.
According to sources, the GST Council, in its last meeting on May 28, had constituted a Group of Ministers to provide tax relief on essential items related to Kovid including PPE kits, masks and vaccines. After the study, the GoM has submitted its report on June 7.
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Tax may be reduced on these devices and medicinesThe GOM is to be used on medical grade oxygen, pulse oximeter, hand sanitizer, oxygen treatment equipment such as concentrators, ventilators, PPE kits, N-95 and surgical masks and temperature measuring devices. He had to give his opinion about the exemption or exemption from the GST rate. GoM has advised to give concession on these.
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GoM’s report will be considered in the meeting
Officials said that the meeting of the GST Council will be held on Saturday and during this the report of the GoM will be considered. It is believed that the Finance Ministers of some states have advocated a rate cut on essential commodities related to the Kovid-19 epidemic.
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After West Bengal, Uttar Pradesh also in favor of GST cut
West Bengal Chief Minister and Trinamool Congress leader Mamta Banerjee had strongly advocated for a GST cut. After this, the states ruled by many opposition parties supported the GST cut. Now BJP-ruled Uttar Pradesh has also agreed. Uttar Pradesh Finance Minister Suresh Kumar Khanna said on Wednesday that the state government is in favor of cutting taxes on essential items related to Kovid for the convenience of patients. However, it will accept the decision of the GST Council with regard to the Goods and Services Tax (GST) rates.