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:
- No decision on bringing Petroleum Products under GST
- GST Council extends concessional GST rates on drugs used in COVID treatment till Dec 31
- GST Council cuts Tax Rates on Medicines used in Cancer Treatment from 12% to 5%
- GST Council reduces GST on fortified rice kennels from 18% to 5%
- No GST on Amphotericin & Tocilizumab, 5% GST on Remdesivir & Heparin
- 5% GST on Retro fitment kits for vehicles used by the disabled.
- 5% GST on Fortified Rice Kernels for schemes like ICDS etc.
- 18% GST on Railway parts, locomotives & other goods in Chapter 86.
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