The 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman via video conferencing today i.e. 12th day of June, 2021, Saturday, via video conferencing in New Delhi.
Union minister of state (MoS) for finance Anurag Thakur and finance ministers of states and Union territories (UTs) attended the virtual meeting, which was held to finalise modalities to compensate states for their revenue shortfall of Rs 2.35 lakh crore in the current financial year.
44th GST COUNCIL MEETING KEY HIGHLIGHTS :
1. The tax rate on ventilators, medical grade oxygen, COVID-19 testing kits, oxygen concentrators and BiPAP machine have been brought down to 5 percent from 12 percent at present.
2. The GST on anti-coagulants like Heparin, high flow nasal canula (HFNC) device and pulse oximeters has been reduced to 5 percent from 12 percent at present.
3. The GST on hand sanitisers and temperature check equipment has been reduced to five percent from 18 percent at present.
4. 5% GST on vaccines will stay.
5. “GST rates have been decided for 4 categories of products- medicines, oxygen, oxygen-generation equipment, testing kits and other machines and other COVID19 related relief material.
6. GST Council approved all recommendations of GoM on rate rationalisation. GST on ambulances reduced to 12 percent.
7. The Centre will buy the 75 per cent vaccine as announced and will pay its GST too. But 70 per cent of income from GST will be shared with States.
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Blog source : GST Council official
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