GST Council Meeting Live Updates: Union finance minister Nirmala Sitharaman chairs the Goods and Services Tax (GST) Council meeting on Friday, after a gap of seven months. With the second wave of coronavirus pandemic ravaging the country, several states have urged a reduction in GST rates on essential COVID-19 supplies including various medicines, medical devices, and health services. This will be the first meeting of GST Council this fiscal. The Council is also expected to discuss the compensation shortfall to the states amid the coronavirus pandemic. “The focus of discussion in upcoming GST Council meeting is likely to be GST compensation dues to the states and tax waivers on varied medicines or medical equipment,” said Prateek Bansal, associate partner, White & Brief Advocates and Solicitors.
Here is the live updates
GST Council meet underway at 11:38
Finance minister Nirmala Sitharaman chairs the 43rd GST Council meeting via video conferencing on Friday. MoS finance Anurag Thakur, finance ministers of states & UTs and senior officers from Centre & States are also present in the meeting: Ministry of finance.
