The common man troubled by the inflation of petrol can get relief today. In the 45th meeting of the GST Council being chaired by Finance Minister Nirmala Sitharaman, a decision can be taken to bring petrol-diesel under the GST ambit. Also, in today’s meeting, the decision to impose GST on the restaurant service of online food delivery companies like Swiggy and Zomato can come. In other words, platforms like Zomato and Swiggy will be treated like restaurants. According to different reports, the government’s idea is to impose 5 percent GST on the service of online food delivery apps. If this proposal is approved, then such apps will have to collect tax from the restaurant and submit it to the government. There will be no burden on the consumer.
How difficult is it to bring petrol under GST?
The opposition to bringing petrol under the ambit of GST has started. Kerala and Maharashtra have opposed it. Experts say that this decision is not easy for the GST Council. Because through this the states earn big money. The state government levies various types of taxes on petrol. In such a situation, the earnings will decrease on removing them. That is why this step will be very revolutionary. It has nothing to do with GST. Each state can decide for itself how much VAT should be levied on petrol.
It is possible to decide on making these goods cheaper
In today’s meeting, a decision can be taken on changes in GST applicable on about 4 dozen items. Apart from this, it can also be considered to extend the tax exemption period on medicines used in Corona till December 31.
Earlier, in the last meeting held on 12 June, the tax rates on Kovid-19 medicines and essential commodities were reduced till 30 September.
In such a situation, in today’s meeting, it can also be decided to extend the tax exemption on 11 Kovid medicines till December 31. Let us tell you that the GST system was implemented in the country from July 1, 2017.
Government’s income is increasing continuously due to GST
The Finance Ministry said in a statement that the Gross GST Revenue in August 2021 is Rs 1,12,020 crore, which includes Rs 20,522 crore for Central GST (CGST), Rs 26,605 crore for State GST (SGST), Rs 56,247 crore for Integrated GST (goods). 26,884 crore on import of goods) and Rs 8,646 crore on Cess (including Rs 646 crore deposited on import of goods). The amount raised in August, however, is less than Rs 1.16 lakh crore in July 2021.
GST revenue in August 2021 is 30 percent higher than the same month last year. The GST collection in August 2020 was Rs 86,449 crore. The ministry said that the GST collection in August 2019 was Rs 98,202 crore. In this way, the collection in August this year was 14 percent more than in August 2019.
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