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Ministerial group to decide on GST rate cut on covid medical supplies

Nirmala Sitharaman city New Delhi India vaccine prevention
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New Delhi: Federal indirect tax body, the Goods and Services Tax (GST) Council on Friday extended tax concessions on a host of imported medical supplies by two more months till end of August and decided to set up a ministerial group to examine demands for tax relief on locally produced covid related medical supplies, union finance minister Nirmala Sitharaman said at a briefing.The Council also decided to continue for another year the borrowing arrangement to meet the GST compensation requirement of states.

The macro estimate is that the Centre may have to borrow ₹1.58 trillion to meet the GST compensation requirement as the funds collected as GST cess on items like cars and aerated drinks may not be sufficient for this.The Council also.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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