GST Council Meet: What will get expensive or cheaper? Check full list
In a slew of decisions, the GST Council on Friday decided to extend the applicability of concessional rates on Covid-19-related medicines but did not include petroleum products in its kitty.
Briefing the media after the conclusion of the Council’s 45th meeting, and the first in a physical format after start of the Covid-19 pandemic, Union Finance Minister Nirmala Sitharaman said that the applicability of duty exemption and concessional rates for Covid and related medicines have been extended from September 30 till December 31, 2021.
Sitharaman said that the council has granted tax exemption on drugs to treat muscular atrophy imported for personal use only, and reduced the duty on drugs for cancer treatment from 12 per cent to 5 per cent.