An important meeting of the GST Council is being held today in Jaisalmer, Rajasthan under the chairmanship of Finance Minister Nirmala Sitharaman. The council meeting will begin shortly from now at 11 am. It is expected that the rates of many categories will be reviewed in this meeting and it is possible that announcements related to it may be made. This includes life and health insurance, luxury goods and aviation turbine fuel. This meeting is being held at the Marriott Hotel in Jaisalmer. After the meeting is over, the Finance Minister's press briefing on the decisions taken in the meeting can be held around 5 pm.

What decisions to expect

According to the information received from sources, the GST Council will consider the proposal to reduce GST rates on life and health insurance premiums in some cases. Apart from this, it will also be considered whether ATF should be brought under the GST ambit. Along with this, the proposal to increase GST on luxury items and sin goods will also be discussed. If the rates on insurance premium decrease, then the cost of insurance will decrease and more people can be brought under its ambit. On the other hand, if ATF is brought under the GST ambit, then companies will be able to take advantage of input tax credit, which will benefit the entire industry by reducing costs. Apart from this, the council will also discuss rate adjustment on 148 items including electric vehicles, small petrol and diesel vehicles. According to sources, the council can also discuss relief on online food delivery charges. What is the information about ATF According to the exclusive information received by CNBC TV 18, the GST Council can discuss in this meeting whether ATF or aviation turbine fuel should be brought under the ambit of GST or the current situation should be maintained. According to sources, there are many things considering which bringing ATF under the ambit of GST can be considered. According to sources, most of the products required for making ATF already come under GST, however, the final product i.e. GST is outside ATF. In such a situation, the manufacturers of ATF are unable to get input tax credit on GST paid on raw materials. This increases the cost of ATF, which also increases the cost of the civil aviation industry.