FM to chair 43rd GST council meeting on May 28

New Delhi, May 17 (KNN) The Union Finance Ministry has announced that the next Goods and Services Tax (GST) council meeting will be held on May 28th for the first time in more than seven-and-a-half months.

The Council, which is expected to meet every quarter, had last met in early October to finalise contours of borrowings by states to meet shortfall in tax revenues. The meeting got extended and ended on October 12.

Taking to the micro-blogging site twitter, Nirmala Sitharaman's office tweeted,"Smt @nsitharaman will chair the 43rd GST Council meeting via video conferencing at 11 AM in New Delhi on 28th May 2021. The meeting will be attended by Shri @ianuragthakur besides Finance Ministers of States & UTs and Senior officers from Union government and states.''

States are also expected to seek a discussion on the plans for meeting the GST compensation shortfalls that may arise this year too, as second-wave lockdowns dent economic activity afresh.

Despite the government announcing several relief measures for different sectors, the coronavirus outbreak which has claimed several lives, has brought the economy to a standstill.