As per the recent tweet of the Ministry of Finance, Hon’ble Finance Minister Smt, Nirmala Sitharaman will chair the 42nd GST Council meeting via video conferencing at 11 AM in New Delhi today.
It is expected that a whole host of issues will be discussed including proposing compliance relaxations, finding a solution to the on-going compensation cess issue of states and whether can the rate be reduced for ayurvedic hand sanitizers. It is also expected that Council would exempt satellite launch services from GST.
“The Council is likely to revisit two options given by Centre to meet compensation shortfall. As part of the revenue collections discussions, Centre will present a detailed calculation of GST Compensation cess collected and released so far,” sources in the know elaborated.
The meeting will be attended by MOS Shri. Anurag Thakur besides Finance Ministers of States & UTs and Senior officers from Union Government & States.
Source:https://twitter.com/FinMinIndia/status/1312943204488998912
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