With the 45th GST council meeting to be held tomorrow at 11:00 am presided by the Finance Minister Nirmala Sitharaman, lets take a look at the major decisions expected to be rolled
1. Petroleum Sector: With soaring petrol and diesel prices, citizens are hopeful of these inclusion under the ambit of GST which is a key subject matter of discussion of the meeting. The decision being dependent on the approval of a large chunk of this panel (three-fourths) the resistance in the matter would dampen the results. The state levies on petroleum which acts as a major contributor to the respective states would have to pass this revenue generating baton in the hands of the centre and risk losing a major revenue generating source.
2. GST on food delivery apps: Lightening consumer pockets, GST council to discuss imposing GST on food delivery applications like Zomato, Swiggy etc., The council envisages to levy atleast 5 percent GST on these applications under the wake of e-commerce operators.
3. Considerations in relation to the pharma sector.
4. Announcements in relation to the compliances under GST and GST portal.
5. Compensation Cess: Considerations on modalities of continuation of compensation cess beyond June 2022
6. Extension of time limit for relief afforded to COVID essentials.
7. Other deliberations