What to expect from GST Council meet tomorrow? States’ financial crisis likely at core of discussion
Meanwhile, for taxpayers, this council meeting may not be of significance unless the states and centre don’t agree on a mid-point for additional levies or extension of cess, or increased rate of cess to resolve the budget constraints. “Though other options like including more luxury and sin goods in the list are still open, the same is not likely to be opted, considering the fact that any increase in rates would lead to a negative perception and give ammunition to critics,” Divakar Vijayasarathy, Founder and Managing Partner, DVS Advisors, told Financial Express Online. Further, labour-intensive sectors such as auto, construction, airline, hospitality, and real estate could be in for a push through reduction or concessions on the back of a massive hit these sectors have undertaken, Divakar Vijayasarathy added.