GST Council Meeting LIVE: Finance Minister Nirmala Sitharaman is chairing the 45th meeting of the Goods and Service Tax Council Council in Lucknow today. The meeting will be the first in-person meeting between the Union Finance Minister and State Finance Ministers in two years. In the previous month, GST revenue collection stood at Rs 1.12 lakh crore this was lower than the Rs 1.16 lakh crore collected in July but was still better than the year-ago period. In today’s GST Council meeting, the finance ministers are expected to discuss the fitment committee’s recommendation to bring food delivery apps such as Zomato and Swiggy within the ambit of restaurant services and make them liable to pay the tax. Further, the GST council may also discuss bringing petrol and diesel under the GST regime.

 

11:31 (IST)17 SEP 2021.
Finance Minister Nirmala Sitharaman chairs the 45th meeting of the GST Council (Image: Twitter/@FinMinIndia)
Finance Minister chairs GST Council meet

Finance Minister Nirmala Sitharaman and state finance ministers are today meeting for the 45th GST council meeting in Lucknow. This will be the first in-person meeting of finance ministers in almost two years. 

 

UP FM says the state is opposed to petroleum products being under GST.

SEPTEMBER 17, 2021 / 12:52 PM IST

GST Council Meeting LIVE Updates: Several industry bodies and companies, according to reports, have approached GST authorities and the Central Board of Indirect Taxes and Customs (CBIC), complaining of harassment by field officers, denial of an input tax credit, cancellation of GST registration, and threats of arrest and steep penalties. Such coercive measures have impacted their working capital and operations, they claimed.

A CNBCTV18 report, quoting sources, said the Directorate General of GST Intelligence has been issuing these notices over the past month, and now industries have escalated the matter to North Block. The worst affected sectors are steel, steel scrap, real estate, IT, and e-commerce.

 

13:21 (IST)17 SEP 2021
Zomato, Swiggy to come under GST?

Of the two options suggested by the panel, the first will require maintaining two books of accounts (sales done through apps and other sales) by small eateries. In the second option, apps will be the deemed restaurant service provider. In this case, restaurants will bill to food delivery apps and collect GST while apps will charge GST on customers.

 

13:38 (IST)17 SEP 2021

GST concession for Covid-19 drugs

GST council has decided to not levy tax on Amphotericin and Tocilizumab, according to CNBC TV18. Further, the council has decided to levy 5% GST on Remdesivir & 5% on Heparin according to the report. 

 

GST Council approves special composition scheme & capacity-based GST to be levied on certain items, sources tell CNBC-TV18