45th meeting of GST Council: Agreement reached to make these things cheaper!
45th meeting of GST Council: Agreement reached to make these things cheaper!
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New Delhi: The GST Council meeting chaired by Finance Minister Nirmala Sitharaman is underway. Some sources say that the council will continue tax exemption on medicines and other goods used in the treatment of corona till December 31, 2021. At the same time, the Government has also widened its scope. Under the information received, no GST will be paid on Ambphotericin and Tocilizumab and 5 percent GST will be levied on remedial and Heparin medicines.

On the other hand, it is also being said that opposition has commenced bringing petrol under GST. Kerala and Maharashtra have opposed it. Experts now say that the decision is not easy for the GST Council as it generates huge income for states.

Let me tell you that the State Government collects a variety of taxes on petrol, so removing them will reduce the earnings. Because of this, this step will be very revolutionary. On the other hand, if we believe that the VAT on petrol is now a new name for the old sales tax and it has nothing to do with GST. It is also being said that every state itself can decide how much VAT it has to impose on petrol.


Decision on which items to be made cheaper is possible- Today's meeting is likely to decide on changes in GST on about 4 dozen items. At the same time, the tax exemption period on corona-used medicines may also be considered till December 31. According to reports, today's meeting is likely to decide to extend the tax exemption on 11 covid medicines till December 31. You all must be aware that the GST regime in the country came into force on 1st July 2017.

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