GST Council to meet on September 17, may review rate on COVID-19 essentials

New Delhi: The Goods and Service Tax (GST) Council will meet on September 17 in Lucknow. Among all the other things, the committee is expected to review concessional rates on Covid essentials.

"Finance Minister Smt @nsitharaman will chair the 45th meeting of the GST COUNCIL on 17th September at Lucknow," the Finance Ministry tweeted.

Finance Minister Smt @nsitharaman will chair the 45th meeting of the GST COUNCIL on 17th September at Lucknow pic.twitter.com/6R74HoI4c1

— Ministry of Finance (@FinMinIndia) September 1, 2021

Notably, the previous GST council meeting was held virtually with the help of videoconferencing on June 12 2021. During the last GST meeting, tax rates on several Covid-19 essentials were reduced till September 30, as the nation was fighting with the second wave of COVID-19.

Goods and Services Tax rates were slashed on Covid drugs such as Remdesivir and Tocilizumab as well as on medical oxygen, and oxygen concentrators other Covid essentials. Also Read: LIC Jeevan Pragati policy: Invest Rs 200 daily in the scheme to get Rs 28 lakh on maturity 

The meeting on September 17 could discuss compensation to states for loss of revenue, review of rates on Covid essentials, and inverted duty on certain goods. Also Read: RBI slaps Rs 25 lakh fine on Axis Bank for KYC norms violation

- With inputs from PTI.