GST Council extends GST Rate Concessions to COVID Medicines

GST Council - GST Rate Concessions to COVID Medicines - Taxscan

The GST Council’s 45th meeting was held today in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the following recommendations relating to changes in GST rates on supply of goods and services and changes related to GST law and procedure:

The GST Council has extended the COVID-19 relief measure in form of GST rate concessions to Amphotericin B, Remdesivir, Tocilizumab, Anti-coagulants like Heparin till 31st December 2021.

The Council also decided to reduce the GST rate to 5% on more Covid-19 treatment drugs, up to 31st December 2021, namely:

  1. Itolizumab
  2. Posaconazole
  3. Infliximab
  4. Favipiravir
  5. Casirivimab & Imdevimab
  6. Deoxy-D-Glucose
  7. Bamlanivimab & Etesevimab

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