GST Council meeting: Some announcement is possible on exemption from GST on vaccines, medicines and infection detection test kits.
44th meeting of GST Council at 11 am.
GST Council meeting: Today the 44th meeting of the GST Council will be held. The meeting will be chaired by Finance Minister Nirmala Sitharaman. In this meeting, tax deduction on essential goods related to COVID-19 and medicine of black fungus will be considered. The meeting will be attended by Minister of State for Finance Anurag Thakur and finance ministers of states and union territories along with senior officials of the central and state governments. The Union Finance Ministry gave this information by tweeting on Friday.
In the council meeting, the report of the Group of Ministers headed by Meghalaya Deputy Chief Minister Conrad Sangma regarding concessions in GST rate on COVID-19 relief goods such as medical grade oxygen, pulse oximeter, hand sanitizer and ventilator etc. will be discussed. Apart from this, the GoM has also considered exemption from GST on vaccines, medicines and infection detection test kits and has given its suggestions. This will also be considered in the meeting.
Finance Minister Smt. @sitharaman will chair the 44th GST Council meeting via video conferencing at 11 AM in New Delhi tomorrow. The meeting will be attended by MOS Shri. @ianuragthakur besides Finance Ministers of States & UTs and Senior officers from Union Government & States. pic.twitter.com/pslBvrD31k
— Ministry of Finance (@FinMinIndia) June 11, 2021
Advocating for tax reduction on COVID related material
It is understood that the Finance Ministers of many states included in the GoM have advocated for tax deduction on the material used in the treatment of COVID-19. Uttar Pradesh Finance Minister Suresh Kumar Khanna, a member of the Group of Ministers, said on Wednesday that the state is in favor of deducting tax on goods related to COVID-19.
43rd meeting was held on 28 May
The last meeting of the GST Council was held on 28 May in which the rates of COVID-19 vaccine and medical supplies were not changed. At that time, differences had emerged between the BJP and the opposition-ruled states over whether the benefits of the tax cut would reach the common people. The Group of Ministers was constituted to suggest rates on essential goods related to COVID-19.
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