GST Council meeting on June 12, a big decision may come on reduction in GST rates

GST Council meeting on June 12, a big decision may come on reduction in GST rates

Business Desk: The meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman, will be held on June 12, in which a decision will be taken regarding reduction in GST rates on essential items related to Kovid. Officials said that the report of the GoM will be considered during this period.

Last meeting
held on 28 May The Council , in its last meeting on 28 May, constituted a Group of Ministers (GoM) to provide tax relief on COVID related essential items including PPE kits, masks and vaccines. The GoM submitted its report on June 7. Finance ministers of some states are believed to have advocated rate cuts on essential items related to Kovid.

Government in favor of cutting taxes on essential commodities:
Uttar Pradesh Finance Minister Suresh Kumar Khanna on Wednesday said that the state government is in favor of cutting taxes on essential items related to COVID for the convenience of patients. However, it will accept the decision of the GST Council with regard to the Goods and Services Tax (GST) rates. However, the Uttar Pradesh government is in favor of reduction in tax rates for the convenience of patients, Khanna said in response to a question.

Several suggestions in the matter of giving concession
from the GST rate The Group of Ministers constituted in the matter of giving concession from the GST rate on the goods providing relief from Kovid has given suggestions in this regard. To recommend to the GoM on exemption or concession from GST rate on medical grade oxygen, pulse oximeter, hand sanitizer, oxygen treatment equipment like concentrator, ventilator, PPE kit, N-95 and surgical mask and temperature measuring equipment. .


Odisha demands increase in minimum support price of paddy to Rs 2,930 per quintal

Odisha demands increase in minimum support price of paddy to Rs 2,930 per quintal

Bhubaneswar: The Odisha government has expressed dissatisfaction over the Minimum Support Price (MSP) announced for paddy at Rs 1,940 per quintal and urged the Center to increase it to Rs 2,930 per quintal. The state government said that this would benefit the farmers. Odisha Agriculture Minister Arun Kumar Sahu said that the Center has increased the MSP of paddy from Rs 1,868 per quintal to Rs 1,940 per quintal for the crop year 2021-22. While the MSP for Grade-A variety has been fixed at Rs 1,960. "This will not particularly benefit the small and marginal farmers of the state," he said.

The minister's statement came after the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved an increase in the minimum support price for Kharif crops for the marketing year 2021-22. Sahu said, “Odisha should not be treated like other states as our farmers often face natural calamities like cyclones, floods, droughts (at some places) and pest attacks. Hence, our state should should be taken in particular. 

The minister said that the central assistance for the farmers of Odisha is not enough. He said that the MSP of paddy should be increased to Rs 2,930 per quintal as per the recommendations of the Swaminathan Committee. Meanwhile, the Odisha government on Friday approved investment proposals worth Rs 1,637.41 crore in the state. With this, employment will be created for 1,116 people in the state. The officer gave this information. These proposals were approved in the meeting of the State Level Single Window Approval Authority chaired by the Chief Secretary of the State SC Mohapatra. After the meeting, Mohapatra said that the state government has given in-principle approval to four industrial projects. Many people will get indirect employment in these projects.


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