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Sitharaman presser LIVE: Not the right time to bring petrol, diesel under GST, says FM

businesstoday.in Sep 17, 2021, Updated Sep 17, 2021, 8:38 PM IST

The Finance Minister said that the issue of petrol and diesel was discussed in the GST Council meeting. The GST Council felt it was not time to bring petrol and diesel under GST, she added.

Finance Minister Nirmala Sitharaman Finance Minister Nirmala Sitharaman

The Ministry of Finance has said as the GST Council meeting is still in progress, the press briefing is slightly delayed. "The briefing will commence after the GST Council meeting gets over. Inconvenience is regretted," the ministry tweeted.

Earlier, the Finance Ministry had tweeted FM Nirmala Sitharaman will address a media briefing on the outcomes of 45th GST Council meeting at 6:30 PM in Lucknow.

Catch all the latest updates on the GST Council meet outcome on BusinessToday.In live blog.

 

9:02 PM (2 months ago)

GST Council deliberated on food delivery apps, says Sitharaman

Posted by :- Mohammad Haaris Beg

 

The Finance Minister explained that the GST Council deliberated on food delivery apps. She explained that place of the delivery will be the point where the tax will be collected by the food delivery apps. They will pay up GST on it. There is no new or extra tax. The tax was payable by the restaurants, instead, now the tax will be paid by the food delivery aggregators.

 

 

8:53 PM (2 months ago)

Two Group of Ministers (GoM) have been formed: Sitharaman

Posted by :- Mohammad Haaris Beg

Sitharaman said that two Group of Ministers (GoM) have been formed. One GoM will study the rate rationalisation issue and submit report within two months. It will come back with clarity on the rate rationalisation issue. The second GoM will look into related issues of e-way bills, fastag, plugging of loopholes, technology, etc. The second GoM will also submit a report within two months.

 

8:48 PM (2 months ago)

Cess to be extended beyond July 2022 to service the borrowed principle and interest: Sitharaman

Posted by :- Mohammad Haaris Beg

The Finance Minister noted that cess will be extended beyond July 2022 to service the borrowed principle and interest. Collection of Cess to repay back to back loans taken in FY21 and current financial year to continue till March 2026.

 

8:34 PM (2 months ago)

GST Council felt it was not time to bring petrol and diesel under GST: Sitharaman

Posted by :- Mohammad Haaris Beg

The Finance Minister said that the issue of petrol and diesel was discussed in the GST Council meeting. Several states said they don't want to bring petrol and diesel under GST. It was decided that the Council should report to Kerala High Court that the matter was discussed. The GST Council felt it was not time to bring petrol and diesel under GST, Sitharaman added.

 

8:25 PM (2 months ago)

GST rate on seven other medicines have also been recommended for reduction from 12% to 5%

Posted by :- Mohammad Haaris Beg

GST rate on seven other medicines, which are recommended by Dept of Pharmaceuticals, have also been recommended for reduction from 12% to 5%. That is also extended till 31st Dec 2021: Finance Minister. Similarly, cancer-related drugs - Keytruda - along with similar other medicines used in the treatment of cancer as per Health Ministry or Dept of Pharmaceuticals are being recommended that they should come down from 12% to 5% said Finance Minister Nirmala Sitharaman.

 

 

8:21 PM (2 months ago)

GST Council decides to correct inverted duty structure in foot wear, textile sector

Posted by :- Mohammad Haaris Beg

GST Council has decided to correct inverted duty structure in foot wear, textile sector. The council has agreed to implement it with effect from Jan 1, 2022.

8:19 PM (2 months ago)

Training programmes where government bears 75% or more exempt from GST

Posted by :- Mohammad Haaris Beg

Training programmes where government bears 75% or more of the cost shall now be exempt from GST.

 

8:18 PM (2 months ago)

National Permit Fee charged by states exempted from GST

Posted by :- Mohammad Haaris Beg

National Permit Fee charged by states for granting permit to goods vehicles to operate throughout India or in contiguous states is being exempted from GST.

 

8:15 PM (2 months ago)

GST Portal stable now: Sitharaman

Posted by :- Mohammad Haaris Beg

 

8:10 PM (2 months ago)

GST Exemption on Transport of Export Goods by Vessels and Air Extended

Posted by :- Mohammad Haaris Beg

GST exemption on transport of export goods by vessels and air extended by one more year to help exporters.

 

8:02 PM (2 months ago)

Concessional GST rates on Covid medicines extended till Dec 31

Posted by :- Mohammad Haaris Beg

Concessional GST rates on Covid medicines extended till December 31. Amphotericin B - nil rate, Tocilizumab - nil rate, Remdesivir - 5% , anticoagulants like Heparin - 5%. These concessional rates which were valid till September 30th are now being extended till 31st December 2021.

 

 

8:00 PM (2 months ago)

GST exemption on muscular atrophy drugs

Posted by :- Mohammad Haaris Beg

GST Council exempts muscular atrophy drugs like Zolgensma, Viltepso from GST.

 

7:09 PM (2 months ago)

Revision in rates of more than 50 goods and services on agenda

Posted by :- Mohammad Haaris Beg

The revision in rates of more than 50 goods and services along with a discussion on bringing petroleum products like petrol, diesel and aviation fuel under the ambit of a nationwide tax is on the agenda of the GST Council meeting.

7:04 PM (2 months ago)

77% of people want petrol, diesel under GST Structure

Posted by :- Mohammad Haaris Beg

As many as 77 per cent of people want petrol and diesel to be included under the GST structure, acccording to a survey by LocalCircles. The GST Council is expected to discuss the matter, following an order of the Kerala High Court that asked the council to decide on bringing petrol and diesel within the GST ambit, based on a writ petition. 

6:50 PM (2 months ago)

'Inconvenience is regretted': Finance Ministry

Posted by :- Manoj Sharma

The Finance Ministry said briefing will commence after the GST Council meeting gets over. Inconvenience is regretted.