GST Council to meet on Friday to discuss rate, tax concession on 11 COVID drugs on cards

FM Nirmala Sitharaman

The GST Council, headed by Union Finance Minister Nirmala Sitharaman, will be meeting on Friday to review tax rate on close to fifty items and also discuss tax concessions on 11 COVID drugs.

The council is also likely to hold discussion on taxing petrol and diesel under the single national GST tax and a proposal categorize food delivery apps namely Zomato and Swiggy as restaurants and charge a 5% GST tax on supplies made.

The GST Council will be meeting in Lucknow on September 17.

“Finance Minister Smt @nsitharaman will chair the 45th GST Council meeting at 11 a.m. in Lucknow tomorrow. The meeting will be attended by MOS Shri @mppchaudhary besides Finance Ministers of States & UTs and Senior officers from Union Government & States,” tweeted the Finance Ministry.

Also Read: FM Nirmala Sitharaman unveils National Monetisation Pipeline

The Council, consisting of central and State Finance Ministers, will be deliberating the proposal of extending the active concessional tax rate structure on Amphotericin B, Tocilizumab, Remdesivir and anti-coagulants like Heparin, till December 31, 2021, from the present September 30.

The tax rate on Amphotericin B, Tocilizumab was cut to ‘Nil’, while Remdesivir and Heparin were reduced to 5 percent in June 2021.

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