GST Council should Priorities Covid Relief, States Cash Woes,

The Goods and Services Tax counci, meting this Friday after a gap of more than seven months, should prioritise giving relief on the taxes levied on COVID-19 vaccines aned critical medical supplies, and rationalise GST rates to provide relief to sectors that are worst hit by the second wave, said regulatory experts.
A mechanism for paying States their compensation dues for this year shall also be a knotty issue for the council to figure out, while little headway is expected on more contentious problems such as bringing petroleum products under the GST regime to reduce the GST regime to reduce the GST regime to reduce the burden of high retail fuel prices on the common man. The council should consider reducing the tax rates of Zero rating the GST on essential material to combat COVID- from hand sanitizers to oximeters and oxygen concentrators, said Saloni Roy, senior director at Deloitte India. COVID-related expenditures incurred by emplotees and their familis may also be considered as input tax credit, she said.

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