Sonali Maity | Sep 18, 2021 |
GST Rates Reduced on Life Saving Drugs: 45th GST Council Meeting
The GST Council’s 45th meeting was held in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. GST Council has inter-alia made the following recommendations relating to change in GST rates on Life Saving Drugs.
Life-saving drugs Zolgensma and Viltepso used to treat Spinal Muscular Atrophy are exempt from GST when imported for personal use.
Medications used to treat cancer such as Keytruda now have a GST rate of 5% instead of the previous 12.
Retrofit kits for cars operated by people with exceptional powers now have a GST charge of only 5%.
GST rates have been cut from 18 percent to 5 percent on Fortified Rice Kernels used in programmes like ICDS.
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