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:
I. Recommendations relating to GST rates on goods and services
A. COVID-19 relief measure in form of GST rate concessions
1. Extension of existing concessional GST rates (currently valid till 30th September, 2021) on following Covid-19 treatment drugs, up to 31st December, 2021, namely
i. Amphotericin B -nil
ii. Remdesivir – 5%
iii. Tocilizumab -nil
iv. Anti-coagulants like Heparin – 5%
2. Reduction of GST rate to 5% on more Covid-19 treatment drugs, up to 31st December, 2021,
namely
i. Itolizumab
ii. Posaconazole
iii. Infliximab
iv. Favipiravir
v. Casirivimab & Imdevimab
vi. 2-Deoxy-D-Glucose
vii. Bamlanivimab & Etesevimab
To Read More….
click the link below….
https://www.dropbox.com/s/tpunih2hf4hvs69/PRESS_RELEASE_45.pdf?dl=0