New Delhi: The 31st Goods and Services Tax (GST) Council meeting is scheduled to be held on December 22 in Delhi. Last month, Finance Minister Arun Jaitley stated that the agenda for the 31st Council meeting has included petrol and diesel under the GST. The Centre’s move on GST and demonetisation were held in the interest of the public, he added.
During the release of the BJP manifesto, Jaitley reportedly said, “The Central government is in its favour but needs a consensus of all states to include petrol and diesel in GST. Till then we are trying our best.” He stated that the GST council would prefer to take a general consensus rather than forcing the decision on all the states. Jaitley was quoted by reports as saying, “It is a federal setup and such a move may affect revenue aspects of any states if decided unilaterally.” (Check the Live Petrol And Diesel Price Here)
The 30th GST council meeting was conducted on 28th September 2018. The agenda of the meeting was related to the administerial progress made in the GST system and the necessity to levy cess during exigencies. The meeting was chaired by Finance Minister of India, Arun Jaitley through video conferencing. At the meeting, Jaitley explained how Bihar managed to benefit. He said, “Bihar imposed an additional VAT in 2015-16 when tax reduced due to the prohibition of alcohol. Taxation inflated by 27% as compared to the previous year and Bihar benefited from this aberration.”
The Goods and Services Tax (GST) Council, which comprises state finance ministers and Union Minister of State in charge of Revenue as members, was set up on September 15, 2016, as the country’s first ‘federal institution’. The GST has replaced 17 central and state levies including factory-gate, excise duty, service tax and local sales tax or VAT.
(With Agency Inputs)