45th GST Council meet on September 17: Here are key issues the Centre may address

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The 45th GST Council Meet will be held on September 17 in Lucknow, CNBC-TV18 reported. This will be the first physical meet of the GST Council since the outbreak of the coronavirus pandemic.

The previous GST Council meet was held on June 12 via video conference amid the devastating second wave of the pandemic. At the meet, Finance Minister Nirmala Sitharaman had announced a reduction in tax rates on most COVID-related supplies and also offered tax exemptions on medicines for treating Mucormycosis.

At the upcoming GST Council meet, the Centre is expected to address various compliance issues and notify a common electronic portal — http://gst.gov.in.

This GST portal will reportedly be used for registration, tax payment, furnishing IT returns, and computation and settlement of IGST.

Additionally, at the September 17 GST Council meeting, the council will help facilitate the procedure for Aadhar authentication of existing GST users.

Further, the council will give a clarification on the interest levied on wrongful/ineligible ITC claims, CNBC-TV18 reported.

Sources were quoted as saying that the GST Council would consider the Group of Ministers’ (GoM) report to allow special cess on pharma and electricity in Sikkim.

The GoM is in favour of allowing Sikkim to levy one percent cess on intra-state supply of pharmaceutical items for three years and explore a proposal to levy Rs 0.1/unit of electricity consumption or sale since it is a state subject that is outside the purview of the Goods and Services Tax.

The GoM has further urged the Centre to consider a special package of Rs 300 crore/annum as an aid to Sikkim till 2023 to help it recover losses made due to COVID-19.

Source from: https://www.moneycontrol.com/news/india/45th-gst-council-meet-on-september-17-here-are-key-issues-the-centre-may-address-7458581.html