GST Rates Reduced on Covid Treatment Drugs: 45th GST Council Meeting

GST Rates Reduced on Covid Treatment Drugs: 45th GST Council Meeting

The GST Council’s 45^th 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 Covid Treatment Drugs. Tax concessions GST rates on COVID-19-related drugs, including Remdesivir, were published earlier and were valid until September 30. The concessions have now been extended until December 31, 2021 (just for medications, not equipments). Until December 31, 2021, GST rates on seven additional COVID-19 therapy medications are decreased from 12 percent to 5 percent. 1. Extension of existing concessional GST rates (currently valid till 30th September, 2021) on following Covid-19 treatment drugs, up to 31st December, 2021, namely- i. Amphotericin B -nil ii. Remdesivir – 5% iii. Tocilizumab -nil iv. Anti-coagulants like Heparin – 5% 2. GST rate reduce to 5% on more Covid-19 treatment drugs, up to 31st December, 2021, namely- i. Itolizumab ii. Posaconazole iii. Infliximab iv. Favipiravir v. Casirivimab & Imdevimab vi. 2-Deoxy-D-Glucose vii. Bamlanivimab & Etesevimab