Wednesday, October 27, 2021

FM Nirmala Sitharaman to chair 44th GST Council meeting today

Finance Minister Nirmala Sitharaman will chair the 44th meeting of the Goods and Services Tax (GST) Council at 11 AM today. The meeting is expected to take a decision on relief in respect of COVID-19 related individual items based on the report of Group of Ministers. The meeting will be attended by Minister of State for Finance Anurag Thakur along with finance ministers and senior officials of states and union territories.

At its meeting on May 28, the GST Council had recommended full exemption from IGST on a number of specified COVID-19 related goods such as medical oxygen, oxygen concentrators, and other oxygen storage and transportation equipment, certain diagnostic markers test kits, and COVID-19 vaccines. The exemption is valid up to August 31 this year.

The Council had also decided to reduce the compliance burden of small taxpayers and medium-sized taxpayers and recommended an amnesty scheme for reducing late fee payable, to provide relief to small taxpayers.

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