The GST Council is anticipated to decide on placing fuel and diesel under indirect taxation and lowering prices for COVID-19 drugs during its meeting. It's the first on-ground GST cabinet meeting after december 18, 2019. Due to the current COVID-19 epidemic, all GST Council meeting was held virtually previously and there have been lots of noises during the GST Virtual meeting taken place so far.
Tax inconsistencies are likely to benefit customers while also making companies more profitable. The central and provincial governments levy high taxes on sensitive car fuels. Bringing them underneath the GST could result in lower taxation. If the GST council chooses to include fuel costs in its scheme, the base price will be subject to a high tax of 28 percent across the nation.
This means that instead of the varied excise and VAT rates imposed by the Centre and state governments on fuel costs, a single GST rate will be applied across the nation. Given the national and state governments' reliance on money from gasoline sales, the GST Council will have to make a difficult decision. The prescription tax breaks for the COVID-19 treatment will be a major comfort for people who are already facing massive medical bills as a result of the epidemic.
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