37TH Goods and Services Tax (GST) Council is likely to meet on September 20 in Goa. “Goa meeting was pending since last one year because of the poor health of past chairperson Arun Jaitley”. The council has now decided to meet outside Delhi this time
In the upcoming meeting, the council is expected to consider the issues raised by the healthcare sector, especially the representation they have given on input tax credit,”.
It was said that “Hospital majors have flagged that they take 7-8 percent hit due to lack of ITC benefit,”
Another issue expected to be considered in the meeting is to do a comprehensive review of the current revenue position, especially deliberating on measures needed to curb GST evasion and ramp-up collections.
The official sated “The council is meeting in the middle of the current fiscal and given the economic challenges, the council will take a review of the current revenue trends, return filing trends, etc. and see what are the measures needed to boost collections,”
Although, it was confirmed that currently, the council is unlikely to take any representation from the auto sector for their demands on rate cut.
About the GST collections, the Gross GST collections stood at Rs 1.02 lakh crore in July, marginally up from the previous month.
As compared to the same month last year, July 2019 mop-up was, that is 5.8 percent higher than the Rs 96,483 crore collected in the same month last year.
Revenue collection from the Goods and Services Tax (GST) had slipped below the Rs 1 lakh crore mark for the first time in the current fiscal in June at Rs 99,939 crore.
Central GST collections stood at Rs 17,912 crore, State GST Rs 25,008 crore and Integrated GST at Rs 50,612 crore (including Rs 24,246 crore collected on imports) during July this year.
It further stated that cess collection stood at Rs 8,551 crore (including Rs 797 crore collected on imports).