The 43rd GST Council meet was held on 28 May 2021 where the council decided to exempt certain covid- 19 relief material from IGST till the end of August. In the backdrop of the 2nd wave of the Covid – 19 pandemic, the council has recommended various other measures intended in relaxing compliance related burden to taxpayers and professionals. In addition, the council also decided that a Group of Ministers (GoM) will be formed which will discuss and decide on the matter of taxation on covid-19 related relief materials. The GoM will submit a report by June 8. Further, the GST Council will meet again to discuss the extension of Compensation Cess that is due to end in 2022.

Summary of key decisions

• Exemptions on import of Covid-19 related relief materials
• GST rate rationalization on Covid-19 related items
• Rationalization of late fee on filing in returns
• Further relaxations to taxpayers in addition to relaxation already provided vide
• notification dated 1 May, 2021
• Announcements with respect to GST annual returns and GST Audit reports for FY 2020-21
• Announcements on relaxations related to other compliances
• Extension on the period of limitation of various actions
• Relaxations related to the real estate sector
• Exemption to corporate donations provided to educational institutions