8-member panel to examine GST waiver for COVID essentials
An eight-member ministerial panel under Meghalaya Chief Minister Conrad Sangma will examine the need for exempting GST or cutting rate on Covid essentials like vaccines, drugs, hand sanitisers, masks, PPE kits and oxygen related equipment.
The GST Council in its meeting on May 28 had decided to set up a Group of Ministers (GoM), which will submit its report by June 8. “As a follow up of the decision of the GST Council at its 43rd meeting, a Group of Ministers (GoM) has been constituted to examine the issue of GST concession/exemption to COVID relief material,” the Finance Ministry said.
As per its terms of reference (ToR), the GoM would examine whether a GST rate cut or exemption would be required for medical grade oxygen, pulse oximeters, hand sanitisers, oxygen therapy equipment like concentrators, ventilators, PPE kits, N-95 and surgical masks and temperature checking equipment. Besides, the panel would also look into COVID vaccines, drugs and medicines for Covid treatment and testing kits for Covid detection. The GoM was constituted after several states such as West Bengal and Punjab asked for exempting all Covid-essential materials from GST.
Centre owes Rs 12,000 crore tax due to TN: Minister
State Finance Minister PTR Thiyagarajan on Saturday said the Union government owes tax dues to the tune of around Rs 12,000, including those other than GST, to TN. Talking to the media a day after participating in his maiden GST council meeting, Thiyagarajan said, “GST was implemented in haste without proper consultation. I fear when a situation arises where it is not possible to amend the GST structure, it will crumble.”
