FM Sitharaman to chair 43rd GST Council Meeting on 28th May 2021

Team Masters India
Team Masters India at March 15, 2022
The Ministry of Finance announced that they would be conducting the 43rd GST Council meeting on 28th May via video conferencing in New Delhi at 11 am. The last meeting, the 42nd GST Council Meeting, was held on 5th October 2020. Finance Minister Nirmala Sitharaman will be chairing the meeting, where notable attendees include Anurag Thakur, Minister of State for Finance & Corporate Affairs, Finance Ministers of States & UTs and Senior officers from Union Government & States. Amid the national outcry over GST rates on Covid-19 relief material, expectations are reasonably high with the meeting.

Expectations from the 43rd GST Council Meeting:

  • Rationalisation in GST Rates
  • GST Exemption on Covid-19 Vaccines and other medical supplies
  • GST Compensation Shortfall to states losing autonomy over revenue generated through indirect tax due to implementation of GST
  • Subsume petrol and diesel under the ambit of GST
  • Resolve issues related to Inverted Duty Structure
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