The Goods and Services Tax (GST) Council is likely to meet next on September 20 in Goa, a senior government official told news council. "The agenda hasn't been finalised yet. But, the healthcare industry's demand on input tax credit maybe considered. Though it is too early to comment on the final agenda," the official said. Healthcare providers have been pushing for a 5 percent GST, since in the absence of input tax credit, they end up absorbing taxes paid on goods purchased from vendors. Input tax credit is not allowed as healthcare services are exempt from GST, except cosmetic surgery and hair transplant. Tax is applicable on implants and artificial limbs.

The Indian automobile sector has hit its worst phase because of a persistent liquidity crunch among India's shadow banks, leading to a collapse in sales. In July, the passenger vehicle industry recorded its worst sales performance in nearly 19 years. According to data released on August 13 by the Society of Indian Automobile Manufacturers, sales fell 31 percent to 200,790 vehicles last month from 290,931 units a year earlier. It was the worst sales performance since a 35 percent decline in December 2000. Representatives from the sector had recently met the finance minister to discuss ways to revive sales. "It's unlikely that any GST relief would be possible for us to provide as of now," the official said.

Source:moneycontrol