GST Council proposes changes in GST Rate for various Goods and Services w.e.f. January 1, 2022
Highlights:
- Extension of existing concessional GST rates (currently valid till 30th September, 2021) on following Covid-19 treatment drugs, up to 31st December, 2021, namely no GST on Amphotericin B, Tocilizumab and 5% GST on Remdesivir, Anti-coagulants like Heparin
- GST rate to 5% on more Covid-19 treatment drugs, up to 31st December, 2021, namely itolizumab, Posaconazole, Infliximab, Favipiravir has been announced.
- The 5% GST rate will be applicable on retro fitment kits for vehicles used by the disabled.
- The GST rate on Fortified Rice Kernels for schemes like ICDS etc has been reduced from 18% to 5%
- ….
Source Taxscan
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