Highlights of comments by finance minister after GST Council meeting Finance Minister Sitharaman

Highlights of comments by finance minister after GST Council meeting
Finance Minister Sitharaman
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* Some long-pending decisions taken at GST Council meet
* GST Council OKs exemptions for some life-saving drugs
* Drugs to treat muscular atrophy exempted from IGST
* Personal use of muscular atrophy drugs exempted from IGST
* National permit fee for goods carriages exempted from GST
* Import of leased aircraft exempted from IGST
* GST Council OKs 18% tax on all pens
* GST Council OKs 12% rate on specified renewable devices
* Council OKs 12% GST rate on renewable energy components
* Discussed inclusion of petroleum pdts in GST on HC order
* Formed another ministers' panel on e-way bill issues
 
Press release
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* GST Council extends concessions on certain COVID drugs till Dec 31
* GST rate on bio-diesel for blending with diesel cut to 5% from 12%
* GST Council hikes tax rate on ores of iron, copper to 18% from 5%
* GST Council hikes tax rate on ores of aluminium, zinc to 18% from 5%
* No GST on Amphotericin, Tocilizumab to continue till Dec 31
* Council OKs GST rate cut from 12% to 5% on cancer-related drugs
* GST rate on fortified rice kernels reduced to 5% from 18
* GST rate on fortified rice kernels reduced to 5% from 18%
* Decided to correct inverted duty structure on footwear, textile
* GST Council recommends new footwear, textile rates from Jan 1
* GST Council felt time not right to include fuel pdts in GST
* GST Council agreed time not right to include fuel pdts in GST
* Need compensation levy till Mar 2026 to pay back GST loans
* Formed ministers' panel on GST rate rationalisation issues
* Ministers' panels given 2 mos to come back with their reports
* Onus of GST shifted from restaurants to food delivery apps
* Tax on food delivery apps' restaurant svcs effective Jan 1
* GST on broadcast licence services hiked to 18% from 12%
* 28% GST, 12% cess on carbonated beverages of fruit drink
* 28% GST, 12% cess on carbonated beverages with fruit juice
* Cloud kitchens to count as restaurant svc, to attract 5% GST

Source : Eureka