In a letter to Finance Minister Nirmala Sitharaman, he said he is writing on the GST issue when the country is in the middle of battling the new wave of COVID which is more devastating.
Despite multiple state government requests, sources say meet unlikely before end of May
The Finance Minister felt that a tax cut on fuel prices should be a joint call of Centre and states.
The official said the meeting is likely to happen either before the Budget session starts or after it commences.
Non-availability of the appellate tribunal is causing serious prejudice to the rights of aggrieved persons for statutory appeal, the court said.
Finance Ministry data showed that the overall GST collection from these products, including cess, during FY 2019-20 was Rs 53,540 crore and excise collection Rs 1,610 crore.
Under GST law, states were guaranteed payment for any loss of revenue in the first five years after the implementation of the GST regime starting July 1, 2017.
In a memorandum, Federation of All India Vyapar Mandal - a national body of small traders - advocating for a single- point GST collection, urged for certain changes.
He said it had been unanimously agreed at the meetings to extend the cess collection period beyond 2022 to meet debt servicing by the borrower.
The Centre had in August given two options to the states -- to borrow either Rs 97,000 crore from a special window facilitated by the RBI or Rs 2.35 lakh crore from the market.
He felt the need for holding more meetings to achieve consensus on the GST compensation issue.
The GST Council took a unilateral decision to pay Rs 1.10 lakh crore GST compensation to States instead of the actual loss of revenue of Rs 1.83 lakh crore.
'Not able to arrive at a consensus', says Nirmala Sitharaman as GST council meet ends without solution
The panel, which is the highest decision-making body on indirect taxes failed to reach a consensus on the Centre's proposal of states borrowing against future GST collections to make up for shortfall.
The Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising of state finance ministers, will for the third time in a row discuss the issue of funding the shortfall of GST revenue
On GST compensation that has become a contentious issue with some states, the Finance Minister said the GST Council would meet again on the 12th.