GST council meeting outcome updates: Import of COVID-related relief items to be EXEMPTED from IGST till 31 August 2021

GST council meeting outcome updates: Import of COVID-related relief items to be EXEMPTED from IGST till 31 August 2021

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Finance Minister Nirmala Sitharaman is holding  a Goods and Services Tax (GST) Council meeting via video conferencing on Friday, the minutes of which she was to announce in a media briefing soon.  Finance Minister was scheduled to brief media about the outcomes of the 43rd GST Council meeting, held after a gap of 7 months, at 7 pm in Delhi.  However, as per the latest development, the Ministry said the meeting is still underway and press briefing will be delayed. “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,” tweeted the Ministry of Finance.  

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“FM Smt. @nsitharaman to hold a media briefing on the outcomes of the 43rd GST Council meeting at 7 PM (tentative) in New Delhi today,” said a tweet from the Ministry of Finance on Friday. 

The meeting that is being attended by Minister of State Anurag Thakur and Finance Ministers of States & UTs and senior officers from Union Government and states is expected to deliberate upon GST exemption medical equipment and other important issues reated to economy. It has been demanded that government exempt GST on hand sanitisers, face masks, gloves, PPE Kits, temperature scanners, oximeters, ventilators, and related equipment in the view of Covid 19 pandemic. 

8:40pm : Annual Return Filing will continue to be optional for 2020-21, for small #Taxpayers with turnover less than Rs. 2 Crore Reconciliation statements for 2020-21 to be furnished by taxpayers with turnover of Rs. 5 Crore or more, said Finance Minister. 

8: 25pm: AmphotericinB (required for treating #Mucormycosis  fungal infection) has also been included in list of items EXEMPTED from IGST, in view of rising cases of the infection.

8:15 pm: Import of COVID-related relief items, even if purchased or meant for donating to Govt. or to any relief agency upon recommendation of State authority, to be EXEMPTED from IGST till 31 Aug 2021.

7:15 pm: Meeting still underway, press briefing delayed

6: 55 pm: Nirmala Sitharaman is set to hold the meeting in 5 minutes. 

6:50 PM: Earier in the day, the finance minister held the 43rd GST council meeting after a gap of 7 months. The pictures of the meeting were shared by Anurag Thakur.

6:30 PM: It is being epoted that government might also considering extension of deadlines for filing GST returns. 

 



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