Key takeaways from 45th GST Council meeting

Union Finance Minister Nirmala Sitharaman. Credit: PTI File Photo

Finance Minister Nirmala Sitharaman on Friday announced key decisions taken in the 45th meeting of the GST Council.

Here are the key takeaways from the meeting:

* GST Council extended concessional GST rates on these drugs used in Covid treatment till December 31: Amphotericin B -nil, Remdesivir – 5%, Tocilizumab -nil, Anti-coagulants like Heparin – 5%

* Reduction of GST rate to 5% on seven more Covid-19 treatment drugs, till December 31, 2021.

* GST rate on biodiesel for blending with diesel cut from 12% to 5%.

* GST Council exempts national permit fee charged by states for operation of goods carriage.

* GST Council felt it isn't time to bring petroleum products under GST regime.

More to follow...

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