PTI report.The top decision-making body, which is headed by Union Finance Minister Nirmala Sitharaman, includes representatives of all states and Union Territories.
The Council is meeting for the first time in nearly eight months.Besides discussion on tax rates, the GST Council may also deliberate on the estimated ₹2.69 lakh crore that states need to be provided as per the promise in 2017 to make good any loss in revenue they suffer because of giving up their right to levy VAT and other taxes.Sources said the Fitment Committee on GST rates, comprising tax officers of Centre and states, has also given its report to the Council listing out the pros and cons of waiver and zero-rating of Covid vaccines, drugs and other equipment.Exempting final.