GST council to meet on Sept 20 in Goa; relief for auto cos unlikely

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The Goods and Services Tax (GST) Council is likely to meet for 37th time on September 20 in Goa. This will be the first outstation meet for the current chairperson and union finance minister Nirmala Sitharaman. In the past, all outstation GST Council meets have been important when it comes to rate rationalisation and decision making. “Goa meeting was pending since last one year because of the poor health of past chairperson Arun Jaitley. The council has now decided to meet outside Delhi this time. The council is likely to take up the issues flagged by the healthcare sector, especially the representation they have given on input tax credit,” senior government officials told CNBC-TV18.

“Hospital majors have flagged that they take 7-8 percent hit due to lack of ITC benefit,” the officials added. Apart from this, the council is also likely to do a comprehensive review of the current revenue position, especially deliberating on measures needed to curb GST evasion and ramp-up collections. “The council is meeting in the middle of the current fiscal and given the economic challenges, the council will take a review of the current revenue trends, return filing trends, etc. and see what are the measures needed to boost collections,” the officials added. Meanwhile, dashing the hopes for auto sector, officials confirmed that currently, the council is unlikely to take any representation from the auto sector for their demands on rate cut.

Gross GST collections stood at Rs 1.02 lakh crore in July, marginally up from the previous month, official data showed on August 1. The July 2019 mop-up was, however, 5.8 percent higher than the Rs 96,483 crore collected in the same month last year. Revenue collection from the Goods and Services Tax (GST) had slipped below the Rs 1 lakh crore mark for the first time in the current fiscal in June at Rs 99,939 crore. Central GST collections stood at Rs 17,912 crore, State GST Rs 25,008 crore and Integrated GST at Rs 50,612 crore (including Rs 24,246 crore collected on imports) during July this year, a statement said. It further stated that cess collection stood at Rs 8,551 crore (including Rs 797 crore collected on imports).

Read More at: https://www.cnbctv18.com/economy/gst-council-to-meet-on-sept-20-in-goa-relief-for-auto-cos-unlikely-4175811.htm