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Monday, October 18, 2021

GST Council Meeting: Petrol-Diesel, Swiggy, Zomato will not come under GST

No decision on bringing petrol and diesel under GST in GST Council meeting

Those demanding to bring the prices of petrol and diesel under the purview of GST have been disappointed. After the meeting of the GST Council, Finance Minister Nirmala Sitharaman did not make any announcement on bringing petrol and diesel under the ambit of GST. But GST will have to be paid on the food delivery of companies like Swiggy, Zomato. Earlier, aggregator companies like Swiggy and Zomato, from which restaurants used to collect food, had to pay tax, but now these companies will have to pay tax.

Reduced rates of GST on medicines of COVID applicable till December 31

The council has decided to continue the reduced rates of GST on many medicines of COVID till 31 December. Apart from this, the government has also announced to exempt many non-covid life saving medicines from GST. Finance Minister Nirmala Sitharaman said that the council will reform the inverted duty scheme on footwear and textiles in January next year.

Ola Bike Sales: Ola created a new record in the e-commerce sector, sold 1100 crore bikes in two days, those who missed the purchase will get a chance on this day

No decision on bringing petrol and diesel under GST

The GST Council discussed bringing petrol and diesel under the ambit of GST as per the directions of the Kerala High Court. But the council later decided to keep it out of the GST ambit. In another important decision, the Council has decided to abolish IGST on the import of aircraft on lease. It is being said that this decision of the council will help the aviation sector facing the crisis to deal with the recession. According to the council’s decision, the fees charged for granting national permits to trucks carrying goods will be kept out of the purview of GST. The council has removed GST on many life saving drugs. These include the black fungus drug Amphotericin B. The GST rate on cancer medicine has been reduced from 12 per cent to 5 per cent.

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