GST COUNCIL CUTS TAX RATE ON COVID-19 ESSENTIALS

The Goods and Services Tax (GST) has been waived for two critical drugs against COVID-19 and black fungus, Tocilizumab and Amphotericin B, while tax rates have been reduced to 5% on 14 major pandemic relief goods, including testing kits and hand sanitisers, from prevailing rates in the range of 12% and 18%. Ambulances, which are currently taxed at 28%, will now attract a GST levy of 12%, Finance Minister Nirmala Sitharaman said on Saturday, announcing these concessional rates following a meeting of the GST Council to discuss the indirect taxes levied on COVID-19 supplies. The reduced rates, which Revenue Secretary Tarun Bajaj said were aimed at providing some succour to the people amid the pandemic, will remain effective till September 30, but could be extended further based on later assessments. The 5% GST levied on vaccines was left unchanged, following the recent changes in the country’s vaccine procurement strategy that puts the Union government in charge of augmenting supplies. PRUDENT MEDIA GOA | Most Popular Goa News Channel Check out latest news on Goa, Politics, Business, Cricket, Technology, Automobile, Lifestyle & Health and Travel. #Goa_news_channel #konkani_news #Konkani_Goa_News_Live_Today Subscribe on youtube ► https://goo.gl/taiJmn More on https://www.prudentmedia.in Download Goa’s No. 1 News Channel Mobile App: https://play.google.com/store/apps/de... Like us on Facebook:   / prudentmedia   Follow us on Twitter:   / prudentgoa