Highlights of 44th GST Council Meeting
- Posted on Jun 12, 2021
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- By Shrotriyo S
The 44th GST council took place on 12th June 2021. The GST council meeting primarily tackled the COVID-19 pandemic cutting, revising tax percentages from the different types of essential services. The 44th GST council meeting took place under the chairmanship of Smt. Nirmala Sitharaman the union Finance & Corporate affairs minister.
The GST council meeting attended by was further attended Union Minister of state for finance Anurag Thakur. Furthermore, the finance minister of all the States and Union Territories (UTs) were a part of the 44th GST council meeting. This meeting also covered the modalities to compensate states for their Rs. 2.35 lakh crore in the current financial year.
Key highlights of the 44th GST council meeting.
The GST on ventilators, medical grade oxygen COVID-19 testing kits, pulse oximeters, high flow cannulas and BiPAP machine has been cut to 5% from 12%.
Additionally, tax cuts on electric furnaces ,temperature taking equipment & ambulances have also been imposed. Life-saving anti-fungal drug used to treat black plague will have no tax impositions. Anti-coagulation lie heparin, remdesivir and all the other recommend drugs by the Ministry of health and Family Welfare will have no taxes imposed, previously the tax percentage on these drugs were 5%.
The other notable highlight of this GST council meeting was that the vaccination saw no cuts on GST.” The 5% GST on vaccines will stay” said Sitharaman, while she talked about the vaccination drive pan-India.
The details on GST Rates are given below :
| S.Sl.No.. No. | Particulars | Previous tax rateGST Rate | Present tax rateRate recommended by GST Council |
| A. Medicines | |||
| 1. | Tocilizumab | 5% | Nil |
| 2. | Amphotericin B | 5% | Nil |
| 3. | Anti-Coagulants like Heparin | 12% | 5% |
| 4. | Remdesivir | 12% | 5% |
| 5. | Any other drug recommended by Ministry of Health and Family Welfare &
Dept. of Pharma (DoP) for Covid treatment |
Applicable Rate | 5% |
| B. Oxygen, Oxygen generation equipment and related medical devices | |||
| 1. | Medical Grade Oxygen | 12% | 5% |
| 2. | Oxygen Concentrator/ Generator, including personal imports thereof | 12% | 5% |
| 3. | Ventilators | 12% | 5% |
| 4. | Ventilator masks / canula / helmet | 12% | 5% |
| 5. | BiPAP Machine | 12% | 5% |
| 6. | High flow nasal canula (HFNC) device | 12% | 5% |
| C. Testing Kits and Machines | |||
| 1. | Covid Testing Kits | 12% | 5% |
| 2. | Specified Inflammatory Diagnostic Kits, namely D-Dimer, IL-6, Ferritin and LDH | 12% | 5% |
| D. Other Covid-19 related relief material | |||
| 1. | Pulse Oximeters, (including personal imports) | 12% | 5% |
| 2. | Hand-Sanitizer | 18% | 5% |
| 3. | Temperature checking equipment | 18% | 5% |
| 4. | Gas/Electric/other furnaces for crematorium, including their installation, etc. | 18% | 5% |
| 5. | Ambulances | 28% | 12% |
These are the highlights of the 44th GST council meeting.
- Posted on Jun 12, 2021
- |
- By Shrotriyo S
- |
- 0 Comments
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