Finance Minister Nirmala Sitharaman said – Concessional GST rates on Kovid medicines extended till December 31
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GST Council Meeting: Many important decisions were taken during the meeting of the GST Council held in Lucknow on Friday. Announcing this, Union Finance Minister Nirmala Sitharaman said that the GST Council has increased the concessional GST rates on medicines used in Kovid treatment till December 31. Earlier its deadline was 30 September.
He said that the GST Council has reduced the tax rate on drugs used in the treatment of cancer from 12 per cent to five per cent. The Finance Minister said that the GST rate on biodiesel mixed with diesel has been reduced from 12 percent to five percent.
GST rate on biodiesel which is supplied to oil marketing companies for blending with diesel have also been reduced from 12% to 5%: Finance Minister Nirmala Sitharaman after 45th GST Council meeting, in Lucknow pic.twitter.com/3plYkBdWte
— ANI (@ANI) September 17, 2021
During the meeting of the GST Council chaired by Nirmala Sitharaman on June 12, he announced a concession in tax rates on Kovid-19 medicines and related equipment. He had said that no tax would be levied on the drugs used in the treatment of black fungus. The Revenue Department of the Ministry of Finance had said that the GST rates have been reduced on 18 Kovid related supplies.
Earlier, Uttar Pradesh Finance Minister Suresh Kumar Khanna had told on Wednesday that the 45th meeting of the GST Council will be held in Lucknow on September 17 from 11 am. The meeting will be chaired by Union Finance Minister Nirmala Sitharaman. He told that the meeting will be attended by Union Minister of State for Finance Pankaj Chaudhary and the ministers nominated as members of the GST Council from all the states of the country. Important points related to GST will be discussed in detail in the meeting.
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