GST Council To Discuss Tax Rate On COVID Essentials, Compensation To States | Read

The GST Council is likely to discuss today a reduction in the tax rate on Covid medicines, vaccines, and medical equipment, as well as means to make up for the shortfall in revenues, promised to states. Ahead of the first meeting of the top decision-making body, finance ministers of eight states ruled by non-BJP and like-minded parties -- Rajasthan, Punjab, Chhattisgarh, Tamil Nadu, Maharashtra, Jharkhand, Kerala, and West Bengal -- have devised a joint strategy to press for a zero tax rate on Covid essentials, sources said.