States likely to ask for five-year extension of GST compensation

Tax sops on Covid supplies to also be on agenda at Council meet

States might seek an extension of up to five years on protected revenues beyond June 2022 at the upcoming Goods and Services Tax (GST) Council meeting, which will take place on Friday after a gap of over seven months.

Besides, states will also pitch for a cut in GST rates on key Covid-19-related medical supplies. However, the Centre appears averse to both the demands on grounds of feasibility.

The Council, chaired by Union Finance Minister Nirmala Sitharaman, may also take up reduction in late fees for late filing of GSTR 3B returns since July 2017, which may be seen as an amnesty