New Delhi: Union Finance Minister Nirmala Sitharaman is chairing a crucial meeting of the Goods and Services Tax (GST) Council today in Lucknow. The 45th GST Council meeting is expected to review the tax rate of more than four dozen items and discuss tax breaks on 11 Covid drugs. The meeting is attended by all state and UT finance ministers and senior officials from central and state governments.Also Read – Taarak Mehta’s Nidhi Bhanushali Will Enter Salman Khan’s Bigg Boss 15? This is what we know
The key issues of taxing gasoline and diesel under the single national GST tax and a proposal to treat food delivery apps such as Zomato and Swiggy like restaurants and collect a tax from 5% on the GST on the supplies they make would be considered by the board at its meeting, PTI reported. Also Read – Garena Free Fire Redeem Codes August 26, 2021: Check Latest Codes, How To Redeem, Multiple Rewards
âThe Minister of Finance Smt. Nirmala Sitharaman will chair the 45th GST Council meeting at 11 a.m. in Lucknow today. MOS Shri Pankaj Chaudhary will attend the meeting, in addition to state and UT finance ministers and senior government and state union officials, âthe finance ministry tweeted. Also Read – Monsoon chaos in UP kills 38 people in two days, heavier rains likely
Price of gasoline, diesel
- In light of the Kerala High Court order, the Council will also discuss the taxation of gasoline and diesel under the GST, a decision that could require huge compromises from central and central governments. state on the income they receive by taxing these products, according to the PTI report.
- In June, the Kerala High Court, on the basis of a lawsuit, asked the GST Council to decide whether to include gasoline and diesel within the scope of the GST.
Online meal delivery Swiggy, Zomato
- To combat tax evasion, the proposal to make food delivery platforms like Swiggy and Zomato responsible for paying the goods and services tax on catering services provided through them would also be considered by the Council, according to the PTI report.
- Once approved by the GST Council, food delivery applications will be required to collect and file GST with the government, in place of restaurants, for deliveries made by them. There would be no additional tax burden for the end consumer.
GST rate on 32 items
- The council will also review and clarify GST rates on 32 goods and 29 services, according to the PTI report.
- The items examined are the drugs Zolgensma and Viltepso for personal use, solar photovoltaic modules, copper concentrate, soft drinks with fruit juice, coconut oil, sweet scented supari, oncology drugs and locomotives. diesel-electric.
Medicines against Covid
- The GST Council will deliberate on the proposal to extend the current structure of concessional tax rates on Amphotericin B, Tocilizumab, Remdesivir, and blood thinners like Heparin, until December 31, 2021, from the 30 current September.
- The tax rate for amphotericin B, tocilizumab was lowered to “Nile,” while remdesivir and heparin were reduced to 5% in June 2021, PTI reported.
- He could also discuss the proposal to reduce the GST from 12% to 5% on seven additional drugs until December 31, 2021. These are itolizumab, posaconazole, infliximab, bamlanivimab and l ‘etesevimab, casirivimab and imdevimab, 2-deoxy-D-glucose and Favipiravir.
Pan Masala, brick ovens
- The Council will also discuss the interim report of a state ministerial group on the capacity-based taxation of pan masala and the composition scheme of brick kilns and stone crushers, in accordance with the report of the PTI.
- The Panel recommended a special composition regime in the brick kiln sector with effect from April 1, 2022, prescribing a 6% GST rate, without ITC, similar to the service sector rate.
- He also suggested raising the GST rate on the supply of bricks from 5% to 12% (with ITC), effective April 1.