GST Council Meet LIVE: Covid-19 aid materials, black fungus drug exempted from tax; return submitting simplified

The GST Council will meet after a spot of almost seven months.

GST Council Assembly LIVE: The forty third GST Council meet was held earlier right this moment the place the council determined to exempt sure covid-19 aid materials from IGST until August finish. The council additionally determined that sure medicine used to battle black fungus can even be given exemption. Finance Minister Nirmala Sitharaman stated {that a} Group of Ministers (GoM) can be shaped that may focus on and resolve on the matter of taxation on covid-19 associated supplies. The GoM will submit a report by June 8. Additional, the GST Council will meet forward to debate the extension of Compensation Cess that is because of finish in 2022.

https://www.financialexpress.com/economic system/gst-council-meeting-live-today-covid19-tax-drugs-vaccine-hospitals-healthcare-state-compensation-shortfall/2260544/