Council to discuss bringing petrol and diesel under GST
Amid a raging row over the hefty taxes on petrol and diesel, the Goods and Services Tax (GST) Council will deliberate on Friday on bringing petrol and diesel under the GST regime even as it is set to sort out the vexatious issue of whether and how to compensate states for any GST revenue shortfall beyond June 2022, sources told FE.
The Council, which will meet physically in Lucknow, will also likely take a call on whether GST concessions for various Covid medicines and related medical equipment, which are to be valid till September 30, should be extended. The sources said that the Council will likely debate on the ‘streamlining’ of GST rates correcting inverted duty structures.
