| Company | Value | Change | %Change |
|---|
Speaking about the deliberations on GST relief for insurance, Seth told CNBC-TV18 that the Group of Ministers (GoM) needs more time to address the complexity of the matter.
Also Read: GST Council defers decision on insurance premia tax relief
“It’s not a question about the Council not being able to decide. These are complex issues with expectations from policyholders. The GoM needs more time, and deliberations are going on as different states have different views on this. It needs to be a well-thought-out decision,” he said.
He noted that differing views among states and the need to consult the Insurance Regulatory and Development Authority of India (IRDAI) are crucial to ensure that any decision accounts for policyholder expectations and regulatory concerns.
Addressing the inclusion of aviation turbine fuel (ATF) under GST, Seth explained that the GST Council debated the implications of such a move, particularly regarding its impact on airfares, airline operations, and state revenues.
Also Read: FM Sitharaman reaffirms no changes to ATF taxation
While a few states supported the idea, the general consensus was that this was not the appropriate time for structured deliberations on the matter.
Discussing food delivery apps, Seth said that many states view them as a composite supply and believe they should be taxed at the same rate as food items.
However, some states raised questions about whether delivery should be treated as a separate service from goods.
Also Read: GST Council decisions: What changes, what doesn’t
He stressed the importance of carefully assessing the implications for quick commerce and similar services, stating that decisions should not be rushed.
