GST Council meeting without talks on Omicron, Covid drugs that save lives


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Even though India has reported its first death from Omircon, and stories of families fanatically seeking to purchase Remdesivir injections during the second wave of Covid reappear in people’s minds, the 46th GST Council meeting did not discuss Omicron or GST about saving corona lives. medications.

The meeting was held here on Friday under the chairmanship of Union Finance Minister Nirmala Sitharaman.

“We have already discussed and given concessional GST rates on Covid-19 treatment drugs at the last GST Council meeting. All GST issues related to corona treatment drugs remain the same as during the 45th GST Council Meeting, “Sitharaman replied after the IANS asked about the GST concession on life-saving corona drugs as a third corona wave is predicted in the country by various experts.

At the 45th GST Council meeting, the extension of concessional GST rates on Covid-19 treatment drugs was approved until December 31, 2021. The GST duty on the infamous Remdesivir injection was by 5% and was extended until December 31. Rescue drugs from Covid-19 namely Amphotericin B, Tocilizumab, Anticoagulants were the others, benefited from the extension of concessional GST rates.

Even a few other Covid-19 treatment drugs like Itolizumab, Posaconazole, Infliximab, Favipiravir, Casirivimab, Imdevimab, Bamlanivimab, Etesevimab and 2-Deoxy-D-Glucose received a reduction in GST level to 5% at the 45th meeting GST Council meeting held on September 17, 2021 in Lucknow.

The Goods and Services Tax (GST) Council, the body with all the powers to make decisions on tax rates on various goods and services, has reduced GST rates on treatment drugs corona at its 44th GST Council meeting from June 21 to September 30, 2021, which was subsequently extended at the 45th GST Council meeting until December 31, 2021 as well.

Many Covid treatment drugs have received a reduction in the GST rate from 12% to 5% or zero, which has been welcomed by pharmaceutical companies and the public, but strongly criticized by a few in the community. GST Council, state finance ministers, led by opposition parties because they demanded zero GST on drugs and corona treatment equipment.

–IANS

nimish / pgh

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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