45th GST council meeting - what's in store?

September 16, 2021
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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