Read more about GST: Centre to borrow Rs 1.58 trn in FY22 to compensate states, says FM on Business Standard. Nirmala Sitharaman announces a flurry of pandemic-related relief measures after the 43rd GST Council meeting
The Council, which is headed by Union Finance Minister Nirmala Sitharaman and includes representatives of all states and Union territories, is meeting for the first time in nearly eight months.
GST Council to discuss tax rate on Covid essentials, compensation to states on Friday
SECTIONS
Last Updated: May 27, 2021, 04:08 PM IST
Share
Synopsis
Ahead of the first meeting of the top decision-making body, finance ministers of eight states ruled by non-BJP and like-minded parties Rajasthan, Punjab, Chhattisgarh, Tamil Nadu, Maharashtra, Jharkhand, Kerala and West Bengal have devised a joint strategy to press for a zero tax rate on Covid essentials, sources said.
Agencies
Under the GST law, states were guaranteed to be compensated bi-monthly for any loss of revenue in the first five years of the GST implementation from July 1, 2017.
The Council, which is headed by Union Finance Minister Nirmala Sitharaman and includes representatives of all states and Union territories, is meeting for the first time in nearly eight months.