NEW DELHI : The shortfall in goods and services tax (GST) cess collection, used for compensating states for their revenue losses, and the proposed compliance relief to businesses for late filing of tax returns, will dominate the GST Council’s meeting on Friday, said two people familiar with the matter, requesting anonymity.Members of the GST Council will discuss the issues over videoconferencing and are also likely to examine suggestions from the industry for tax cuts on certain products such as hand sanitisers.
However, major changes in the tax rates are unlikely, as there is no fiscal room for the government to offer a stimulus through a GST rate cut.Policymakers are also not likely to consider a tax rate increase as it could come in the.