GS Paper - 3 (Economy)

Finance Minister Nirmala Sitharaman on 17 September 2021 announced key decisions taken in the 45th meeting of the GST Council.

Key takeaways:

  1. GST Council extended concessional GST rates on these drugs used in Covid treatment till 31 December 2021: Amphotericin B -nil, Remdesivir – 5%, Tocilizumab -nil, Anti-coagulants like Heparin – 5%
  2. Reduction of GST rate to 5% on seven more Covid-19 treatment drugs till 31 December 2021.
  3. GST rate on biodiesel for blending with diesel cut from 12% to 5%.
  4. GST Council exempts national permit fee charged by states for operation of goods carriage.
  5. The GST Council felt it isn't time to bring petroleum products under the GST regime.