GST Council Meeting: During the financial year 2020-21, the Center has taken a loan of Rs. In addition, Rs 68,700 crore has been collected through cess. About eight months later on May 28, the GST Council is meeting. There are many such issues at the GST Council’s May 28 meeting, and this time it is expected to get into turmoil. Look at those problems …
Zero GST on vaccine
The BJP’s deep state is ready to pressure the corona vaccine and all medical devices related to the corona to be completely tax free. At the same time, government officials say it cannot be done. There is every possibility of meeting uproar about this.
States demand GST to cover losses
Because of corona and lockdown, states seek relief from the Center on GST. Experts say the center may have to cover GST losses for the second consecutive year. According to experts, the center is worth Rs 2.7 lakh crore.
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Growth in declining tax collection: GST collection is expected to decline by 30 per cent in May due to the second wave of corona and lockdown. Increasing the revenue from the GST Council in the current round by increasing tax collection is a big challenge for the government’s necessary expenses.
There will be a debate on the impact on the economy
It is also being said that due to the economic side effects of the second wave of corona, GST accumulation is adversely affected. The effects of the second wave of corona will also be discussed at the meeting on the economy of the states. The meeting will also discuss some relief for the automotive industry.