Stage set for a stormy GST meet today

 


Union finance minister Nirmala Sitharaman will chair the first Goods and Services Tax (GST) Council meet of this financial year on Friday. From compensation to states to tax waivers on various medicines, medical devices, and health services amid the second wave of the coronavirus pandemic — a host of issues will be discussed at the 43rd GST Council meet, according to reports. This will be the first GST meet after a gap of seven months.

Here are the key things to expect from 43rd GST meet on Friday

1) GST Compensation to the states

The GST Council is expected to discuss the compensation shortfall to the states amid the coronavirus pandemic. The shortfall in GST compensation payable to states in the current fiscal has been estimated at Rs 2.69 lakh crore. Several states want an extension of the GST compensation beyond July 2022 as economic uncertainty continues, according to ANI reports.

Source: https://www.news18.com/news/business/gst-council-meet-today-compensation-shortfall-to-extension-of-gst-deadlines-what-to-expect-3784733.html


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