Key decisions of 45th GST Council Meeting

45th GST Council Meeting - 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:

  • 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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