44th GST Council Meeting – Highlights
The 44th GST Council Meeting was held on 12th June 2021. The meeting was presided over by Finance Minister Nirmala Sitharaman. Also, Shri Anurag Thakur, Union Minister of State for Finance and Corporate Affairs, the finance ministers of the states and Union Territories (UTs), and other senior officers from the Ministry of Finance and the states & UTs were present at the meeting.
Considering the spread of COVID-19 and different types of fungus, the government has proposed to discuss the necessity for further GST rate reductions and to decide on any new exemptions for COVID treatment necessities and Black Fungus treatment.
Read on to know the announcements made in the 44th GST Council Meeting.
GST rate reduction on medicines for COVID-19 and Black Fungus treatment
| Items | Old rate | New rate |
| Tocilizumab | 5% | Nil |
| Amphotericin-B | 5% | Nil |
| Remedesivir | 12% | 5% |
| Anti-coagulants | 12% | 5% |
| Any other drug (recommended by the Ministry of Health and Family Welfare (MoHFW) and the Dept. of Pharma (DoP) for COVID-19 treatment) | Existing rate | 5% |
GST rate reduction on medical equipment for COVID-19 treatment
| Items | Old rate | New rate |
| Medical Grade Oxygen | 12% | 5% |
| Oxygen concentrators/ generators (which include personal imports) | 12% | 5% |
| Ventilators and ventilator masks/ cannula/ helmets | 12% | 5% |
| BiPaP machine | 12% | 5% |
| High flow nasal cannula device | 12% | 5% |
| Pulse oximeters | 12% | 5% |
GST rate reduction on COVID-19 testing kits and items utilised for the prevention of COVID-19
| Items | Old rate | New rate |
| COVID-19 testing kits | 12% | 5% |
| Specified Inflammatory Diagnostic Kits, namely D-Dimer, IL-6, Ferritin and LDH | 12% | 5% |
| Hand sanitiser | 18% | 5% |
| Temperature checking equipment | 18% | 5% |
The summary of the GST late fees computation as of July 2017 are as follows.
| The GSTR 3B, the GSTR 1, and the GSTR 4 (if sales) | 50 rupees GST late fee per day, with a daily limit of 10,000 rupees |
| The GSTR 3B, the GSTR 1, and the GSTR 4 (Nil GSTR 9 and GSTR 9A) | 20 rupees GST late fees per day, up to 10,000 rupees total |
| GSTR 9, 9A | 200 Rupees every day with a turnover cap of 0.5% |
| GSTR 10 (Final Return) | 200 rupees per day |
Others GST rate reduction
| Items | Old rate | New rate |
| Gas/electric/other furnaces for crematoriums, including their installation, etc | 18% | 5% |
| Ambulances | 28% | 12% |
Stay tuned to our blog to know further details about the upcoming 45th GST council meeting.