GST Council meet on May 28, tax waivers on medicines on agenda

THE LAST TIME THE COUNCIL MET WAS ON OCT 5, 2020 TO RESOLVE THE ISSUE OF COMPENSATING STATES FOR

THEIR REVENUE SHORTFALL IN 20-21

Newňdelhi:ň≠t◢e≠goods≠and≠serv[ces≠

Tax≠ (GST)≠ Counc[̂≠ w[̂̂ meet≠for≠t◢e≠f[rst≠t[me≠[n≠seven mont◢s≠ on≠ May≠ 28≠ to≠ d[scuss ̧ey≠ [ssues≠ suc◢≠ as≠ compensat[on≠to≠states≠and≠tax≠wa[vers≠on var[ous≠ med[c[nesp≠ med[câ dev[cesp≠ and≠ ◢eât◢≠ serv[ces am[d≠ t◢e≠ second≠ wave≠ of≠ t◢e Cov[d-19≠pandem[cp≠two≠off[c[âs sa[d≠on≠saturday.

F[nance≠ m[n[ster≠ N[rmâa S[t◢araman’s≠off[ce≠on≠saturday tweeted≠t◢e≠date≠and≠t[m[n↘≠of t◢e≠ meet[n↘.≠ T◢e≠ move≠ came after≠ severâ≠ statesp≠ [nĉud[n↘ Punjab≠and≠west≠ben↘âp≠ra[sed t◢e≠[ssue≠of≠an≠[nord[nate≠dêay [n≠conven[n↘≠t◢e≠meet[n↘p≠off[c[âs≠aware≠of≠t◢e≠devêopments sa[d≠on≠cond[t[on≠of≠anonym[ty.

“Smt≠ Ľns[t◢araman≠ w[̂̂ c◢a[r≠ t◢e≠ 43rd≠ GST≠ Counc[̂ meet[n↘≠v[a≠v[deo≠conferenc[n↘ at≠11≠am≠[n≠new≠dê◢[≠on≠28t◢ May≠2021.≠t◢e≠meet[n↘≠w[̂̂≠be attended≠by≠mos≠s◢r[≠ľ[anura↘t◢a̧ur≠bes[des≠f[nance≠m[n[sters≠of≠states≠&≠uts≠and≠sen[or off[cers≠ from≠ Un[on≠ Government≠&≠statesp”≠a≠tweet≠from≠t◢e f[nance≠m[n[ster’s≠off[ce≠sa[d.

T◢e≠gst≠counc[̂≠[s≠requ[red to≠meet≠once≠[n≠every≠quarter. Its≠ meet[n↘s≠ are≠ convened≠ by t◢e≠ f[nance≠ m[n[stry≠ as≠ t◢e counc[̂≠[s≠c◢a[red≠by≠t◢e≠un[on f[nance≠m[n[ster.≠f[nance≠m[n[sters≠of≠states≠and≠un[on≠terr[tor[es≠(uts)≠are≠members≠of≠t◢e counc[̂p≠t◢e≠apex≠federâ≠body on≠[nd[rect≠tax≠matters.

T◢e≠̂ast≠t[me≠t◢e≠counc[̂≠met was≠ on≠ October≠ 5P≠ 2020≠ (t◢e 42nd≠ meet[n↘)≠ to≠ resôve≠ t◢e [ssue≠of≠compensat[n↘≠states≠for t◢e[r≠ revenue≠ s◢ortfâ̂≠ [n 2020-21.≠ T◢at≠ meet[n↘≠ was extended≠to≠next≠weȩ≠on≠october≠12≠for≠f[nâ[s[n↘≠a≠centrâ[sed borrow[n↘≠mec◢an[sm≠to≠meet t◢e≠revenue≠s◢ortfâ̂.≠after≠t◢atp t◢e≠counc[̂≠d[d≠not≠meet.

Ear̂[er≠t◢[s≠weȩp≠west≠ben↘â≠f[nance≠m[n[ster≠am[t≠m[tra wrote≠to≠s[t◢aramanp≠aş[n↘≠◢er to≠ convene≠ t◢e≠ GST≠ Counc[̂ meet[n↘≠[mmed[atêy≠as≠states were≠ expect[n↘≠ an≠ âarm[n↘ s◢ortfâ̂≠[n≠gst≠compensat[on revenue≠because≠of≠t◢e≠cov[d-19 pandem[c.≠“as≠per≠goi≠ňgovernment≠ of≠ Ind[a]≠ project[onp≠ t◢e s◢ortfâ̂≠was≠expected≠to≠be≠to t◢e≠tune≠of≠₹1p56p164≠crores≠[n 2021-22≠w[t◢out≠ta̧[n↘≠[nto≠cons[derat[on≠t◢e≠[mpact≠of≠cov[d Wave-2p”≠m[tra≠sa[d≠[n≠t◢e≠̂etter to≠ t◢e≠ f[nance≠ m[n[ster.≠ HT reported≠on≠t◢e≠̂etter≠on≠may≠14.

Last≠ weȩp≠ Punjab≠ f[nance m[n[ster≠manpreet≠s[n↘◢≠badâ aşed≠ S[t◢araman≠ to≠ ur↘ent̂y convene≠a≠meet[n↘≠of≠t◢e≠counc[̂≠for≠a≠“ser[ous≠m[d-term≠correct[on”≠on≠tax≠[ssues.≠in≠◢[s≠̂etter≠badâ≠sa[d:≠“...fa[̂ure≠to≠◢ôd any≠ construct[ve≠ consûtat[on w[t◢≠states≠for≠so≠̂on↘≠[n≠suc◢ cr[t[câ≠t[mes≠ma̧es≠me≠wonder w◢et◢er≠centre≠◢as≠usurped≠â̂ t◢e≠powers≠of≠states≠putt[n↘≠t◢e sp[r[t≠ of≠ cooperat[ve≠ federâ[sm...”

Bes[des≠fû̂≠compensat[on≠to statesp≠ many≠ members≠ want Gst≠wa[vers≠on≠severâ≠cr[t[câ [tems≠ at≠ t◢e≠ t[me≠ of≠ t◢e≠ pandem[cp≠[nĉud[n↘≠vacc[nesp≠̧ey med[c[nes≠and≠◢eât◢≠care≠serv[ces.≠t◢ese≠matters≠coûd≠be≠d[scussed≠at≠t◢e≠counc[̂≠meetp≠t◢e off[c[âs≠ment[oned≠above≠sa[d.