Economy

GST Council meeting rescheduled for July 27

Our Bureau | | Updated on: Jul 25, 2019

The 36th meeting of Goods and Services Tax (GST) Council has been rescheduled for July 27. The meeting was to be held on Thursday but was called off because of “Finance Minister’s preoccupation.”

It is the first incidence of rescheduling of meeting since setting of GST Council.

According to sources, the meeting has two items. First item is to consider the recommendations of the Fitment Committee on rates for electric vehicles, chargers and hiring of EVs. Initially the proposal was to cut the rate on electric vehicles to 5 per cent from 12 per cent and on chargers to 5 per cent from 18 per cent, and on hiring to 5 per cent from 18 per cent. The second item is to extend the last date for enrolling under alternate composition scheme for service providers. The last date as of now is July 31.

However, sources said that States such as West Bengal and Kerala raised objection of lowering duty. “We do not think income tax incentive and lower GST will cut prices of EVs significantly as of now,” one Senior State Government official said while other advocated for incentive for vehicles based on BS VI norms as this will help the automobile sector which is facing problem because of lower sales.

Published on July 25, 2019
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