Nirmala Sitharaman to lead GST Council meeting today, tax on vaccine may come down

Jun 12 2021 12:31 PM
Nirmala Sitharaman to lead GST Council meeting today, tax on vaccine may come down

New Delhi: The 44th meeting of the GST Council has been convened today. The meeting will be led by Union Finance Minister Nirmala Sitharaman and will be attended by finance ministers from all states. The only agenda of the meeting is to consider the report of the Council of Ministers on the GST rate on corona treatment and Vaccine.

The Group of Ministers was constituted at the last GST Council meeting held on the 28th of last month. The Group of Ministers has submitted its report on June 7 which will be brainstormed at today's meeting. The recommendations of the Group of Ministers have not been made public, but according to sources, the Group of Ministers has not recommended any change in the GST rate on vaccine. If this recommendation of the Group of Ministers is accepted, it will not be good news for those hoping for a reduction in the price of the vaccine.

There are two arguments behind this. First, hospitals, not people, will directly benefit from reducing or eliminating GST on the vaccine. Secondly, after announcing a change in the vaccine policy, the central government will now buy 75 percent of the vaccine and give it free to the state governments. In such a situation, there will be no additional burden on the State Governments.

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