GST Council gives relief for Covid materials, black fungus drug

From the exemption of GST on black fungus drug Amphotericin B to extension of tax relief on Covid materials, the 43rd GST council meet, the first of this year was centred around reducing the cost of covid treatment materials.

The FM said, "The Council has decided to exempt the import of relief items even if they are purchased if they are meant for donations to State governments. This exemption has been extended till August 31. So far, the IGST exemption was available only when you were importing free of cost,"

The finance minister also stated that a Group of Ministers will be quickly formed who will submit their report within 10 days - on or before June 8, so that if there are any further reductions which need to be done will be done, in the sense, that rates will be decided by them.