GST letter with money
On Saturday, to examine the Goods and Services Tax (GST) freedom on Covid-19 necessities like vaccines, testing kits, ventilators and drugs, a committee of 8-member was made by the Government under the Meghalaya chief minister Conrad K Sangma.
The other seven committee members are Uttar Pradesh finance minister Suresh Kumar, Telangana finance minister T Harish Rao, Gujarat deputy chief minister Nitinbhai Patel, Kerala finance minister KN Balagopal, Maharashtra deputy chief minister Ajit Pawar, Goa transport minister Mauvin Godinho, and Odisha finance minister Niranjan Pujari.
The Union finance minister said that, by June 8, the group of members (GoM) would have to submit its suggestions to the GST Council. On Friday, forming a committee to review the level of tax waiver on Covid-19 items was taken by the apex federal body after a discussion on the topic of tax freedom at the GST Council on the same day.
On May 9, Finance Minister Nirmala Sitharaman said that "If full exemption from GST were given, domestic producers of these items would be unable to offset taxes paid on their inputs and input services and would pass these on to the end consumers by increasing their price."
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