Black fungus medicine becomes tax free, 5% GST will be levied on corona vaccine

The recommendations of the minister group on the relief content attached to Corona today accepted the GST Council. GST Council chaired by Finance Minister Nirmala Sitharaman approved Tax Free to Black Fog's medicine. At the same time, many other things related to Corona reduced tax rates.

Meeting from video conference

Given the effect of Corona in the country, this 44th meeting of the GST Council is getting through the video conference. The meeting of Finance Minister Anurag Thakur and the Finance Ministry officials are present in the meeting with Finance Minister Nirmala Sitaraman.

Apart from this, senior officers of the Finance Minister, Central and State Governments of the States and Union Territories are also included in the meeting. In the meeting, the minister group report made for tax exemption on Corona relief material has to be considered.

Tax relief on Corona relief material

Earlier, a minister group was formed in the GST Council meeting in May. It was asked to give recommendations for which GST should be charged at the rate of relief content related to Kovid. This minister group was handed over to the government on June 8 on June 8, which was headed by the Chairman of the Deputy Chief Minister Konrad Sangma of Meghalaya. Now the decision on this report of the minister group has to be made.

The Minister Group had considered GST discount on Corona Relief Content like Medical Oxygen, Pulse Oxquel, Hand Sinetizers and Ventlants. In this group of eighth members, the finance ministers of some states had asked to reduce the rate of tax on Corona vaccine, medicine, testing kit etc.

Decision not taken in the last meeting

In the meeting occurred on May 28, the decision to fix tax rates on the relief material of Corona was abandoned. This minister group was created only for consideration. Now there will be a decision in this 44th meeting of the council.

Now 5% GST on the Corona vaccine made in the country, while 12% GST on the drugs and oxygen constrators attached to Corona. The Council had exempted the import of medicines' Emphoterisin-B imports in the treatment of Black Fung in the 28 May meeting.