Tax cut on COVID-19 essentials, black fungus drug on agenda for today’s GST council meet

Anurag Thakur, the Union minister of state for finance along with finance ministers of states and Union territories and senior officers shall be attending the virtual GST meeting.

To decide on the Goods and Services Tax (GST) rate cut on medical supplies to cushion COVID-19 management and black fungus medicine, the GST council will be chaired by the Union Finance Minister Nirmala Sitharaman today. The recommendations made by a group of ministers (GoM) set up to look into demands for tax relief on medical supplies for treating the coronavirus disease is expected to be considered by the Goods and Services Tax (GST) Council.

In the previous meeting of the council on 28th May, to recommend GST exemptions on a variety of COVID-19 essentials inclusive of drugs, vaccines, ventilators and testing kits, the GoM was set up. A report submitted by the GoM on 7th June will be discussed in today’s meeting.

Anurag Thakur, the Union minister of state for finance along with finance ministers of states and Union territories and senior officers shall be attending the virtual GST meeting.

“The state is in favour of cutting taxes on COVID-19 essentials to facilitate patients but the decision made by the GST council on tax rates will be accepted,” said Suresh Kumar Khanna, Uttar Pradesh finance minister and a member of the GoM.

The need for GST exemption/concession on COVID-19 vaccines, testing kits, medical-grade oxygen, drugs and medicines for treating COVID-19, pulse oximeters, hand sanitisers, N95 masks, oxygen therapy instruments, surgical masks, thermometers, PPE kits and any other items required for relief were to be examined by the Group of Ministers (GoM), according to its statement of reference.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy