It may discuss extending the compensation cess for states beyond 2022
Somanathan said that a dose of carefully calibrated tariff protection for select sectors showing potential may be desirable
She also said that the flow of Covid-19 vaccination across the country will be well managed and all states will be taken care of
Some distance covered but there is scope for a huge improvement
GST Council must maintain revenue momentum, simplify rate structure, and strengthen cooperative federalism in spirit and letter
West Bengal minister Amit Mitra on Wednesday urged Union Finance Minister Nirmala Sitharaman to consider a "course correction" to rebuild faith.
The recent upsurge in revenues offers the prospect of the country breaking out of the long-stagnant tax-to-GDP ratio
Mitra said that the GST Council was the only federalist institution, but in the last few years, an omnipotent, authoritarian and majoritarian approach was creeping into the GST Council.
Decisions were no longer taken on the basis of a consensus as originally envisaged: Mitra
Council should address structural shortfall in revenue
The council meet is expected to deliberate the exemption and concession on Covid-19 related items
The GoM will give its findings by June 8 and the GST Council will take suitable decisions soon.
The government is conscious of the intensity of the second wave of Covid-19 and is assessing its full impact before coming out with further packages and interventions, says FM Sitharaman
They have also sought an additional compensation of Rs 65,000 crore for FY21
GST Council should have addressed pressing issues
Under the GST laws, hundreds of mass consumption items and essential services are exempted fully or attract a lower rate of tax than the standard rate of 18%
The issue of GST rates on vaccines and other Covid-related supplies will be reviewed by a Group of Ministers (GoM).
States' demand for the extension of the compensation period beyond June 2022 will be taken up in a separate meeting
Nirmala Sitharaman announces a flurry of pandemic-related relief measures after the 43rd GST Council meeting
Compensation of states is also on the agenda