GST Council Meeting: GST collection affected thanks to COVID-19
GST collection has been affected thanks to COVID-19. Today, 41st Goods and Services Tax (GST) Council meeting, the minister of finance Nirmala Sitharaman said that the GST collection was affected thanks to Corona. Today, the GST Council met within the capital.
GST collection affected thanks to Corona
After the GST Council meeting, the Revenue Secretary said that the products and Services Tax (GST) collection has been badly affected thanks to the COVID-19 epidemic. The revenue secretary said that the shortfall in GST collections can’t be offset by the accumulated funds of India. The revenue secretary said that there has been a deficit of Rs 2.35 lakh crore in GST collections in FY 2020-21, out of which only 97,000 the rationale for the shortfall of crores is GST implementation and therefore the reason for the remaining shortfall is epidemic.
The meeting was chaired by the minister of finance Nirmala Sitharaman, which was also attended by Anurag Thakur, Minister of State for Finance (MoS), minister of finance of varied states and Union Territories (UTs) and senior officials of the central government and states. The meeting was organized through video conferencing. The Finance Ministry tweeted that the minister of finance Nirmala Sitharaman presided over the 41st GST Council meeting in New Delhi today through video conferencing. MOS Anurag Thakur, minister of finance of States and Union Territories, and senior officials of the Central Government and States were also present within the meeting.
In the last meeting persisted 12 June, the GST Council waived fees for filing late returns between July 2017 and January this year to mitigate the impact of the COVID-19 crisis on micro, small and medium enterprises (MSMEs). Was decided
On Wednesday, Congress interim president Sonia Gandhi held a gathering with the Chief Ministers of Congress-ruled states of West Bengal, Maharashtra, and Jharkhand and their counterparts on issues associated with the GST arrears of the states, and said that the refusal of GST compensation to the states within the Narendra Modi government.