Gst Council Meeting
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GST Council Meet: Tax on COVID-19 vaccines unchanged; 'black fungus' drug added to import exempt list
•Finance minister Nirmala Sitharaman, chairing the Council's first meet in nearly eight months on Friday, said the waiver of I-GST will continue on free COVID-19 related supplies imported from abroad till 31 August
Supreme Court defers hearing of pleas related to loan moratorium scheme to 5 Nov
•The pleas pertained to the charging of interest on interest by banks on EMIs which have not been paid by borrowers after availing the loan moratorium scheme of RBI from 1 March to 31 August
GST Council to discuss compensation for states for third time tomorrow; decision on setting up group of ministers likely
•In its previous meeting last week, the Council had decided to extend the surcharge on taxes on luxury goods beyond June 2022 but failed to reach a consensus on ways to compensate states for loss of tax revenue
GST Council fails to reach consensus on compensation to states; next meeting on 12 October
•Finance minister Nirmala Sitharaman said the panel decided to extend the use of GST cess collections for compensating states beyond the previously agreed June 2022 timeframe
Stormy GST Council meet likely today; non-BJP states to oppose Centre's borrowing options
•Chief Ministers of six non-BJP ruled states — West Bengal, Kerala, Delhi, Telangana, Chhattisgarh and Tamil Nadu – have written to the Centre opposing the options which require states to borrow to meet shortfall
Tamil Nadu govt asks Centre to continue GST compensation, says state's economy is 'burdened' due to COVID-19
•The state govt also urged Centre to expedite the release of Rs 12,258.94 crore, which is its GST arrears since 2018-19 and outstanding Integrated GST of Rs 4,073 crore for 2017-2018 fiscal
41st GST Council meeting: As fund crunch deepens, states likely to corner Centre over pending compensation
•Ahead of the meeting today, chief ministers of Opposition-ruled states got together on Wednesday to devise a common strategy on the issue
Sushil Modi says Centre 'morally if not legally bound' to pay GST compensation to states
•Ahead of the GST Council meeting, the Bihar deputy CM said states have to be compensated to the tune of Rs 3.65 lakh crore in the current fiscal
GST Council to discuss Attorney General's opinion on compensation, says Nirmala Sitharaman
•The attorney general has said that there is no obligation on the Central government to pay the GST compensation shortfall to the states.
GST Council to discuss waiver of late fee for August 2017 to January 2020; next meeting to be held on 14 June
•The CBIC said late fee is imposed to ensure that the taxpayers file return in time and pay taxes on the amount collected from buyers and due to the government.