te GST Council Meet to begin shortly: Discussion likely on bringing petrol, diesel under GST | Zee Business

GST Council Meet to begin shortly: Discussion likely on bringing petrol, diesel under GST

The 45th GST Council Meeting headed by Union Finance Minister Nirmala Sitharaman will be held at Hotel Taj in Lucknow on Friday.

GST Council Meet to begin shortly: Discussion likely on bringing petrol, diesel under GST
GST Council Meet to begin shortly. Image source: PTI

The 45th GST Council Meeting headed by Union Finance Minister Nirmala Sitharaman will be held at Hotel Taj in Lucknow on Friday, September 17, at 11 am. The Finance Minister is likely to address the media at 8 pm.

Finance ministers of all the states across the country will attend the meeting. As per the information the Council might consider taxing petrol, diesel and other petroleum products under the single national GST regime, a move that may require huge compromises by both central and state governments on the revenues they collect from taxing these products.

 

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It is also likely to consider extending the time for duty relief on COVID-19 essentials. The Council could also discuss the modalities of continuation of compensation cess beyond June 2022.

 

The other agendas of the meeting may include announcement related to pharma sector; discussion on treating food delivery apps such as Zomato and Swiggy as restaurants and levy 5 per cent GST on supplies made by them.

It can be noted that this is the first time in 20 months that the GST Council will have a physical meeting. The last such meeting was on December 18, 2019, before the Covid-19 induced lockdowns.

The previous Council meeting was held via videoconferencing on June 12 during which tax rates on various Covid-19 essentials were reduced till September 30.

Written By: ZeeBiz WebTeam
Edited By: Ravi Kant Kumar
Updated: Fri, Sep 17, 2021
11:14 am
New Delhi, ZeeBiz WebDesk
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