The 45th meeting of the GST Council will be held today in Lucknow, the capital of Uttar Pradesh. Finance Minister Nirmala Sitharaman will preside over this meeting to be held at 11 am, finance ministers of all states will participate in the meeting. Many important issues are expected to be discussed in this meeting of the GST Council, which will have an impact on the businessmen to the common man.
The discussion on bringing petrol and diesel under GST has once again gained momentum. In the meeting of the GST Council to be held today, there can be a discussion on bringing petroleum products under the purview of GST. In fact, if any changes are to be made in the GST system, approval is required from three-fourths of the panel. Representatives of all states and territories will be involved in this. However, some of this proposal has opposed the inclusion of fuel in the GST because they say that in such a situation, it will hand over a major revenue-generating tool to the central government.
The council may consider imposing GST on food delivery apps like Zomato, Swiggy, on demand for food from cloud kitchens. The fitment panel of the committee has recommended to the council to bring food delivery apps under the ambit of at least 5% GST. The Council’s fitment panel has recommended that food aggregators be treated as e-commerce operators. In such a situation, ordering food online from Swiggy, Zomato may cost you dearly.
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Apart from this, announcements can also be made regarding GST compliance and common GST e-portal. Also, some announcements related to the pharma sector are also possible. The GST Council may also consider extending the compensation cess to the states beyond 2022. In this meeting, the concessional rates on essential goods related to Covid-19 can also be reviewed. The relief given on GST on many products and services can also be carried forward to fight COVID. That is, this meeting is also important for the general public in many matters.