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Main points of 45th GST Council Meeting

The GST Council’s 45th meeting was held today in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.

 

Key highlights of the meeting are here:-

  • Life-saving drugs Zolgensma and Viltepso used in treatment of Spinal-Muscular Atrophy exempted from GST when imported for personal use
  • Extension of existing concessional GST rates on certain COVID-19 treatment drugs upto 31st December 2021
  • GST rates on 7 other medicines recommended by Department of Pharmaceuticals reduced from 12% to 5% till 31st December 2021
  • GST rate on Keytruda medicine for treatment of cancer reduced from 12% to 5%
  • GST rates on Retro fitment kits for vehicles used by persons with special abilities reduced to 5%
  • GST rates on Fortified Rice kernels for schemes like ICDS reduced from 18% to 5%
  • Council also recommends major changes in GST rates and scope of exemption on Services
  • Recommends several clarifications in relation to GST rates on Goods and Services
  • Council recommends several measures relating to GST law and procedure
  • Council decides to set up 2 GoMs to examine issue of correction of inverted duty structure for major sectors and for using technology to further improve compliance, including monitoring


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TaxGyata Team

TaxGyata Team