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Monday, October 18, 2021

GST Council reduced tax on these items, here is the complete list

After the meeting of the GST Council, petrol and diesel were refused to be included in the GST purview. Many important decisions were taken in the 45th meeting of the GST Council. In this, the GST exemption on Corona medicines was increased to 31 December 2021. Under the important decisions that were taken, the GST rate on many things was reduced.

GST on railway parts and locomotives increased from 12% to 18%.

GST on biodiesel reduced from 12% to 5%.

The GST has been reduced to 5% on vehicles used for differently-abled and on retro-fitment kits used in it.

The GST rate on fortified rice kernels used under Integrated Child Development Services Scheme has been reduced from 18% to 5%.

For the next one year, there will be no GST on the transportation of export goods by ship or airplane. This was done because exporters are facing difficulty in getting Input Tax Credit refund due to technical glitch in the GST portal.

The GST rate on cancer drugs like Keytruda has been reduced from 12% to 5%.

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

The GST rate has been reduced from 12% to 5% by December 31, 2021, on 7 medicines prescribed by the Pharma Department.

gst rate on drugs

Amphotericin B (0%)

Tocilizumab (0%)

Remdesivir (5%)

Heparin (5%)

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