GST council to meet for first time after lockdown; businesses eye rate cut but here’s what govt has on cards

GST council is set to meet tomorrow for the first time after the nationwide lockdown and the council is expected to discuss the revenue shortfall and the compensation to states. Though the businesses are expecting rate cuts amid economic slowdown, it is unlikely that the council will announce any major rate cut tomorrow. Given a high level of uncertainty about revenue flow in the current financial…