Bright Times News: Goods and Service Taxes or GST Council meeting starting today. Union Finance Minister Nirmala Sitharaman will preside over the 47th meeting of the GST Council. The GST Council meeting started at eleven o’clock. This year’s GST Council meeting is being held in Chandigarh The whole country is looking forward to this GST Council meeting.
The GST Council meeting this year is significant for several reasons. This meeting may discuss the GST rate reshuffle. GST rates on various items may be discussed. The amount of GST on different items may vary. In addition, the GST Council meeting this year is important for another reason.
This meeting will discuss the compensation of the states. The GST Council meeting will decide how much the states will receive for GST compensation, and when.
The GST Council meeting this year is significant for several sons. This is the first time a committee has been established to take the interests of the state seriously. The committee consists of multiple representatives from the states and the center. At the top of the committee is a retired judge.
Before this year’s GST Council meeting, there was speculation as to whether the amount of GST on goods would increase. However, given the current rate of inflation in the country, many feel that neither the Center nor the state would suggest a way to increase GST.
The GST Council discussed bringing gasoline and diesel under the tax last year. Although in the end, the center did not make that decision. It remains to be seen whether the Center can take such a big decision at this year’s GST Council meeting.
The GST Council meeting will last for two days. The gathering will take place on June 28 and 29. After the meeting, Nirmala Sitharaman will meet the journalists.