GST Council Meet On September 17 To Review Rate On COVID Essentials, Compensation Mechanism

The meeting on September 17 could discuss compensation to states for loss of revenue, review of rates on COVID essentials, and inverted duty on certain goods.

The GST Council will meet on September 17 in Lucknow which among other things may review concessional rates on COVID essentials. “Finance Minister Smt @nsitharaman will chair the 45th meeting of the GST COUNCIL on 17th September at Lucknow, the Finance Ministry tweeted. 

The previous Council meeting was held via videoconferencing on June 12 during which tax rates on various COVID essentials were reduced till September 30. Goods and Services Tax rates were slashed on COVID drugs such as Remdesivir and Tocilizumab as well as on medical oxygen, and oxygen concentrators other COVID essentials.

The meeting on September 17 could discuss compensation to states for loss of revenue, review of rates on COVID essentials, and inverted duty on certain goods.

(PTI)