GST Council cuts rates on Black Fungus drugs, other Covid essentials: Highlights – Times of India
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NEW DELHI: Finance minister Nirmala Sitharaman chaired the 44th GST Council meeting in Saturday, majorly to decide on tax relief for Covid-19 essentials and black fungus medicine.
In its previous meeting on May 28, the Council had set up a group of ministers (GoM) to recommend tax rates for Covid-19 essentials. The Council discussed the report of the GoMs as well.
The meeting was attended by minister of state (MoS) for finance Anurag Thakur, finance ministers of states and Union territories and senior officers from the government and states.
Here are the highlights of the decisions taken by the Council:
* At its meeting on May 28, the GST Council had recommended full exemption from IGST on a number of specified Covid-19 related goods such as medical oxygen, oxygen concentrators, and other oxygen storage and transportation equipment, certain diagnostic markers test kits, and Covid-19 vaccines even if imported on payment basis for donating to the government or on the recommendation of state authority to any relief agency. The exemption is valid up to August 31 this year.
* GST was also exempted on import of Amphotericin B, a medicine used for the treatment of black fungus.
In its previous meeting on May 28, the Council had set up a group of ministers (GoM) to recommend tax rates for Covid-19 essentials. The Council discussed the report of the GoMs as well.
The meeting was attended by minister of state (MoS) for finance Anurag Thakur, finance ministers of states and Union territories and senior officers from the government and states.
Here are the highlights of the decisions taken by the Council:
* At its meeting on May 28, the GST Council had recommended full exemption from IGST on a number of specified Covid-19 related goods such as medical oxygen, oxygen concentrators, and other oxygen storage and transportation equipment, certain diagnostic markers test kits, and Covid-19 vaccines even if imported on payment basis for donating to the government or on the recommendation of state authority to any relief agency. The exemption is valid up to August 31 this year.
* GST was also exempted on import of Amphotericin B, a medicine used for the treatment of black fungus.
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