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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.