To get familiar with the updates of recent meetings, let’s start with the highlights of the 43rd GST council meeting. The meeting was held under the chairmanship of Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing mode on 28th May, 2021. Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers and senior officers of the Ministry of Finance of other states and union territories also participated in the meeting. The council made the undermentioned recommendations relating to GST rates. As a COVID-19 relief measure, medical oxygen, oxygen concentrators and other oxygen storage and transportation equipment, certain diagnostic markers test kits and COVID-19 vaccines, Amphotericin B, etc., have been recommended for full exemption from IGST, even if imported on payment basis up to 31 August 2021. To check if further relief in items for COVID-19 is realizable a Group of Minsters (GOM) was constituted. The GOM was asked to give its report by 8th June,2021.
By- Rida Ahmad The Center and states will audit the expense structure on vast autos and continuation of focal deals assess (CST) on petroleum and gaseous petrol when they meet a month after merchandise and enterprises impose (GST) was launched.The GST Council, which meets on Saturday , will likewise talk about worries over rentedContinue reading “GST Panel to Review Tax on Large Cars”