LIVE: Petrol, diesel won't be brought under GST yet, says Sitharaman

Coronavirus live updates: RBI says India's economy is set for 'escape velocity' from the pandemic; China preps for vaccine shots.

Coronavirus updates:India reported 34,403 new cases of Covid-19 and 320 deaths from the disease, said the health ministry on Friday, marking a 12.5 per cent increase in daily infections from Thursday.

The country�s total cases increased to 33.38 million and 444,248 people have died of the disease yet, said the ministry. Active infections comprise 1.02 per cent of total since start of the pandemic.

The government aims to set a Covid-19 vaccination record on Friday to mark the 71st birthday of Prime Minister Narendra Modi. The BJP has planned a 20-day event called "Seva and Samarpan Abhiyan" to mark his "20 years in public service".

India hasfully vaccinated20 per cent of its adult population with two shots and 62 per cent have received at least one dose, the health ministry said on Thursday.

Theeconomy recoveredwell in August and is set for "escape velocity" from the pandemic, said the Reserve Bank of India in a bulletin. "As pandemic scars heal and supply conditions are restored with productivity gains, a sustained easing of core inflation can be expected," it said.

World coronavirus updates:China will start inoculating key population groups with booster shots between September and November, Bloomberg reported quoting the Henan Daily.

A Covid outbreak inside the Kremlin has sickened dozens of people working close to Vladimir Putin, the Russian president said, highlighting the scale of the outbreak in one of the country�s most carefully guarded areas.

A third dose of the Pfizer-BioNTech SE vaccine can dramatically reduce rates of Covid-related illness in people 60 and older, according to data from a short-term study in Israel.

12:52 AM

Majority of Council opposed bringing petroleum products under GST: Sitharaman

Union Finance Minister Nirmala Sitharaman on Friday said that a majority of state governments opposed the inclusion of petroleum products under the GST.

 

Addressing the media after the conclusion of the Council's 45th meeting -- and the first held in a physical format after start of the Covid-19 pandemic, she said that the issue was deliberated at the meeting, after it was added to the agenda at the last moment on the back of a Kerala High Court order.

 

Sitharaman said the Council members did not see find the current situation appropriate to bring petroleum products under the GST. It was widely speculated that such a move might be initiated to lower the record high prices of petrol and diesel.

11:38 PM

Hopeful that petrol, diesel will come under GST in near future, says PHD Chamber

PHD Chamber of Commerce and Industry (PHDCCI) is very hopeful that if not now then in the near future petroleum products will be brought under the Goods and Services Tax (GST) ambit.

 

"If petroleum products are brought under GST there will be no direct benefit as the petroleum price will remain the same," Sanjay Aggarwal, President PHDCCI told ANI.

 

Aggarwal said that currently many states are opposing bringing petrol, diesel under GST. They fear losing the revenue but when GST was introduced it was basically to ensure that there is no multiplication of taxes. The industry is not able to get any input tax credit.

 

"As far as the consumer is concerned, there will be no direct benefit. Even if the GST is becoming applicable to all petroleum products, the petroleum price will remain the same. But as far as the trade industry is concerned, if there is the transportation cost on account of fuel, we are not getting an input tax credit".

11:02 PM

Swiggy, Zomato to collect 5% GST on deliveries, food not to get dearer

The GST Council on Friday approved a proposal to treat food delivery apps such as Zomato and Swiggy as restaurants and levy 5 per cent GST on supplies made by them.

 

Such food delivery apps will now be required to collect 5 per cent GST, or Goods and Services Tax, from consumers instead of the restaurant they pick up orders from, Finance Minister Nirmala Sitharaman said on Friday evening after the Council meeting.

 

There would be no extra tax burden on the end consumers taking food delivery from restaurants registered with the GST. However, the levy will plug tax evasion being done by unregistered restaurants.

 

The changes will be effective from January 1, 2022 to allow the e-commerce operators time to make changes in their software for such tax to be charged.

10:33 PM

GST Council extends lower tax rate on COVID drugs till Dec 31; compensation to states to end in June 2022

The GST Council on Friday extended concessional tax rates on COVID-19 medicines, cut tax on cancer drugs and waived GST on import of highly expensive medicines for muscular atrophy, but will continue to keep petrol and diesel out of the uniform national tax regime.

 

The Council, which is headed by the union finance minister and includes representatives from all states and UTs, decided to charge services by cloud kitchens and food delivery platforms like Zomato and Swiggy a 5 per cent GST.

 

From January 1, food delivery apps will have to collect and deposit 5 per cent GST with the government, in place of restaurants, for deliveries made by them. There would be no extra tax burden on the end consumer.

10:00 PM

GST Council extends period for concessional rates on Covid medicines

Union Finance Minister Nirmala Sitharaman on Friday said that applicability of concessional GST rates on Covid-19-related medicines has been extended till December 31, 2021.

 

The duty exemption and concessional rates for Covid and related medicines was applicable till September 30.

 

Addressing the media after the conclusion of the Council's 45th meeting, and the first in a physical format after start of the Covid-19 pandemic, she said: "We have taken a few people friendly decisions...,"

 

Sitharaman said that the council has granted tax exemption on drugs to treat muscular atrophy imported for personal use only, and reduced the duty on drugs for cancer treatment from 12 per cent to 5 per cent.

8:17 PM

Petrol, diesel won't be brought under GST yet, says Sitharaman

 Govt will report to Kerala HC that GST Council felt that “it wasn’t the time to bring petrol, diesel under GST”, says FM

 

8:06 PM

Two key Covid drugs exempted from GST, says FM Sitharaman

7:59 PM

FM announces further GST relief for anti-Covid drugs till Dec 31

7:57 PM

People-friendly decisions taken during GST council meet, says FM

7:53 PM

FM Nirmala Sitharaman speaks on outcomes of GST Council meeting

 

7:52 PM

J&K records 155 new cases as Covid surges

The upward surge in Covid spread continued in J&K on Friday, with 155 new cases were reported during the last 24 hours with the Srinagar district reporting around two-thirds of these, IANS reported.

 

Officials said that 22 cases were reported from the Jammu division and 133 cases and one death from the Kashmir division while 135 patients were discharged from hospitals after recovery.

 

Officials said 96 new cases were reported in Srinagar district as the authorities brought another affected area into the micro-containment zone.

 

7:12 PM

Goa CM attacks state Cong chief Chodankar over vaccine hesitancy

The BJP on Friday attacked Goa Congress chief Girish Chodankar for claiming that the state government's announcement of 100 per cent first dose coverage of eligible beneficiaries was false as he and his family were yet to get inoculated because they had "certain doubts", PTI reported.

 

His statement, made at a press conference on Thursday, led to Chief Minister Pramod Sawant advising him to shun negativity about the vaccination process and help in efforts to tackle the pandemic.

6:51 PM

Kerala reports 23,260 fresh cases

6:17 PM

FM may announce further GST relief for anti-Covid drugs shortly

 

5:58 PM

Andhra Pradesh reports 1,393 new cases