New Delhi: The Goods and Service Tax (GST) Council will meet today. This is to discuss a number of proposals including whether to bring petrol under the garb of GST.
The council chaired by Finance Minister Nirmala Sitharaman will be meeting in Lucknow, Uttar Pradesh.
The council will review the GST rate. This will be on more than four dozen items. It includes online food delivery services. Also, the GST council is also likely to extend the last date for concessions on 11 COVID drugs.
Finance Ministry tweeted, “Finance Minister Smt @nsitharaman will chair the 45th GST Council meeting at 11 AM in Lucknow tomorrow. The meeting will be attended by MOS Shri @mppchaudhary besides Finance Ministers of States & UTs and Senior officers from Union Government & States.”
One of the primary topics that the GST Committee is to discuss is whether to bring petrol and diesel under the GST can or not. If the GST Council gives a green signal then petrol will sell at just Rs 75 per litre. Meanwhile, diesel will retail at about Rs 68 per litre, according to economists. However, such a decision is unlikely from the council.
Meanwhile, the council might reduce the tax rates on certain drugs. The current is at 12 per cent to 5 per cent.
Itolizumab
Posaconazole
Infliximab
Bamlanivimab &
Etesevimab
Casirivimab & Imdevimab, 2-Deoxy-D-Glucose
Favipiravir are some of the drugs that could get cheaper.
Another category suggests bringing food delivery services under GST. The suggestion if accepted is likely to make online food deliveries more expensive.
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