Latest Breaking News India

GST Council Extends Concession On 2 Expensive COVID Drugs To Dec 31

Bhubaneswar: The GST Council on Friday extended the concessional GST rates on COVID-related medicines till December 31.

Speaking to the media after 45th GST Council meeting in Lucknow, Finance Minister Nirmala Sitharaman said since the two drugs, Zolgensma and Viltepso, are highly expensive, the Council has decided to grant exemption to those from GST. The concession for these drugs for treatment of COVID was applicable till September 30.

She further said the drugs suggested by the Ministry of Health for treating muscular atrophy on the recommendation of Health Ministry and Pharmaceuticals department  are also exempted for IGST on import for personal use.

The Finance Minister said the Council has recommended to bring down the GST rate on fortified rice kernels for schemes like integrated child development from 18% to 5%.