InvestorQ : What were some of the major decisions taken by the GST Council meeting on Saturday 12 June?
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What were some of the major decisions taken by the GST Council meeting on Saturday 12 June?

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Debbie Mascarenhas answered.
2 years ago
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The GST Council has taken a decision to reduce GST rates on key items used in COVID-19 relief and management. This will be effective till September 30, 2021. Here are some key highlights.

· The GST Council will stick to the 5% tax rate on vaccines as before. However, the GST rates on Tocilizumab and Amphotericin-B have been cut from 5% to 0%. In addition, the GST rate on Remdesivir and Heparin were lowered from 12% to 5%.

· There was a sharp cut of GST from 12% to 5% in the case of a number of support instruments like medical grade oxygen, oxygen concentrators, ventilators, BiPAP machines and HFNC devices. Even tax on COVID testing kits is cut from 12% to 5%.

· On expected lines, other apparatus like pulse oximeters, hand sanitisers, temperature measurement equipment and ambulances too would now be subject to only 5% GST rates.

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