45th GST Council Meeting: Key takeaways

On Friday, the 45th meeting of the GST Council was held in Lucknow. We have mentioned the key takeaways of the meeting below-

  • The meeting has exempted expensive imported drugs like Zologensma and Viltetso from GST.

  • The council has extended the concessions on COVID-related drugs till December 31, 2021.

  • The council informed that it is not the right stage to bring petrol and diesel under GST. They have continued the exemption of petrol and diesel from GST.

  • The food-ordering apps have been included under GST. As a result, the delivery charges of Zomato and Swiggy will be increased. The place where the food is delivered will be the point where the tax will be collected by the food delivery partners. Earlier this tax was paid by the restaurant.

  • The inverted duty scheme on footwear and textiles will be corrected from January 1, 2022.

  • The council has reduced tax rates on cancer-related drugs from 12% to 5%.

  • Cess to pay back the compensation loans by Centre and State has been extended till March 2026.

  • The GST Council exempted national permit fees charged by states for the operation of goods carriage.

  • The council has increased GST on locomotives and certain railway parts from 12% to 18%.

  • Specific renewable devices will attract 12% GST.

  • IGST on the imports of aircraft has been exempted.


D9D318A1-A861-4CFD-94ED-B72F5EDD67F3_edi

Subscribe to us

Thanks for submitting!

intern%20with%20us_edited.jpg
  • Instagram
  • Twitter
  • LinkedIn
  • Facebook

INDEPENDENT.

OBJECTIVE.

UNBIASED. 

the breif bulletin logo