GST Council extends period for concessional rates on Covid medicines

Lucknow: Union Finance Minister Nirmala Sitharaman on Friday said that applicability of concessional GST rates on Covid-19-related medicines has been extended till December 31, 2021.

The duty exemption and concessional rates for Covid and related medicines was applicable till September 30.

Addressing the media after the conclusion of the Council’s 45th meeting, and the first in a physical format after start of the Covid-19 pandemic, she said: “We have taken a few people friendly decisions…,”

Sitharaman said that the council has granted tax exemption on drugs to treat muscular atrophy imported for personal use only, and reduced the duty on drugs for cancer treatment from 12 per cent to 5 per cent.

(IANS)

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