CBIC extends concessional rate benefit to specified drugs used in COVID treatment till December 31, 2021

CBIC extends concessional rate benefit to specified drugs used in COVID treatment till December 31, 2021 The CBIC vide Notification No. 12/2021-Central Tax (Rate) dated September 30, 2021 has, further extended the duration of concessional rate benefit on specified drugs used in COVID treatment as well as further reduces GST rate on other specified drugs used in COVID treatment in order to adhere to the recommendations of 45th GST Council meeting held on September 17, 2021 as under: A. Extension of existing concessional GST rates on following Covid-19 treatment drugs, up to December 31, 2021 from September 30, 2021, namely-

i. Amphotericin B - Nil ii. Remdesivir - 5% iii. Tocilizumab - Nil iv. Heparin (anti-coagulant) – 5%

B. Further reduction of GST rate to 5% on other Covid-19 treatment drugs, valid up to December 31, 2021, namely- i. Itolizumab ii. Posaconazole iii. Infliximab iv. Favipiravir v. Casirivimab & Imdevimab vi. 2-Deoxy-D-Glucose vii. Bamlanivimab & Etesevimab This notification shall come into force from the October 01, 2021 and remain in force December 31, 2021. Similar notifications have been passed under Integrated Goods and Services Tax Act, 2017 (“IGST Act”) and Union Territory Goods and Services Tax Act, 2017 (“UTGST Act”). CGST (Rate) Notification: Link IGST (Rate) Notification: Link UTGST (Rate) Notification: Link (Author can be reached at [email protected]) DISCLAIMER: The views expressed are strictly of the author and A2Z Taxcorp LLP. The contents of this article are solely for informational purpose and for the reader’s personal non-commercial use. It does not constitute professional advice or recommendation of firm. Neither the author nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this article nor for any actions taken in reliance thereon. Further, no portion of our article or newsletter should be used for any purpose(s) unless authorized in writing and we reserve a legal right for any infringement on usage of our article or newsletter without prior permission.