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GST Council proposes changes in GST Rate for various Goods and Services w.e.f. January 1, 2022

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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