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The Food Ministry has called a meeting of oil companies on Wednesday to discuss reducing the retail prices of edible oil. Food Secretary Sudhanshu Pandey said, there has been a fall in the prices of edible oil in the global market. In the meeting, these companies will be asked to pass on its benefits to the customers. Here, Revenue Secretary Tarun Bajaj said on Tuesday that there is a need to reduce the number of exempted products under GST.
This is necessary for the service sector. Addressing the Confederation of Indian Industry (CII) program, he said, the government’s effort is to remove the loopholes in the GST system in two-three years. The Group of Ministers is engaged in rationalizing the rates. CII President Sanjeev Bajaj said that electricity and fuel should also be brought under the ambit of GST to simplify the structure.
Health services not affected by GST on hospital rooms
Bajaj defended the levy of GST on non-ICU rooms with rentals above Rs 5,000, saying it will not affect providing affordable health care to a large section of the population. He said, I would also like to know that how many rooms are rented in hospitals across the country. I think this number will be very less. So, if I can spend Rs 5,000 on room rent, I can also pay Rs 250 as GST.