GST rates on Covid items slashed; Exemptions & GST reductions extended till September

The GST Council has largely accepted the recommendations of the Group of Ministers constituted to look into extending the ambit of GST concessions on COVID treatment-related medical devices and drugs. Briefing media in New Delhi, Finance Minister Nirmala Sitharaman informed that the Council has agreed to completely exempt antifungal drug Amphotericin - B and antiviral drug Tocilizumab from any kind of GST. The Minister added that GST on another critical drug Remdesivir, used in treatment of COVI...