Taxpoint: GST Fitment Committee not in favor of reducing GST rates on COVID vaccines

GST Fitment Committee not in favor of reducing GST rates on COVID vaccines

Some other Important Points are as follows:

There is no proposal to lower rates for hand sanitizers, ventilators, masks, PPE lits, RT-PCR machines
GST Fitment Committee may recommend status quo on rates for COVID-19-related Drugs
Also, discussion on GST slabs is not on the agenda of GST Council’s May 28 meet
There is no proposal with the GST Council for the inclusion of ATF, natural gas & petroleum crude under GST
GST rate cut proposed for medical grade oxygen, oxygen concentrators, pulse oximeters, COVID testing kits. Proposed GST rate at 5% Vs current rate of 12%
IGST exemption if goods are supplied to centre, state govts. IGST exemption possible if supplies are not to profit hospital for COVID

from Studycafe https://ift.tt/3uiWz9T

Taxpoint