Decision on the cut off in tax for Covid Supplies: Finance Minister

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Our finance minister Nirmala Sitharaman declared that the 43rd goods and service tax (GST) council meeting was held on Friday, May 28th, through the virtual meet. The meeting was on cutting down the tax on the covid essential supplies and essential items, though there was no consensus reached in the reduction of tax digits. The decided tax rates on the COVID will be decided and announced on the June 8 declared the finance minister. Meanwhile holding the press conference after the GST meeting. 

The sources say that the GST council will provide relief in the quarterly paying off the GST returns from the traders while relieving the late fee penalty payment of GST. the GST will examine the pharmaceutical and the power sectors deeply. 

The meeting was attended by the Anurag Thakur, Minister of the State for Finance, finance minister, and other senior officials of the Union territories. The meeting was held to look upon the reduction in the cutting down of the rates in the medicines, vaccines, and other covid relief supplies. 

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