Synopsis
The GST Council’s meeting, the first this year, comes at a time when the country is reeling under the second wave of coronavirus infections that have derailed the economic recovery. Though the council is required to meet once every quarter, the last meeting was held in October last year.
Agencies
Recently, Sitharaman had clarified that doing awaywith the 5 percent GST on the vaccines will negatively impact the prices as manufacturers would be denied input tax credit who will, in turn, pass on this to the consumers as a cost .
The GST Council on Friday left taxes on COVID-19 vaccines and medical supplies unchanged but exempted duty on import of a medicine used for treatment of black fungus.
GST Council proposes amnesty scheme for small, medium taxpayers: Highlights
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GST Council proposes amnesty scheme for small, medium taxpayers: Highlights
TIMESOFINDIA.COM / Updated: May 28, 2021, 21:27 IST
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NEW DELHI: The 43rd GST Council on Friday took several key decisions including exemption of duty on import of Covid-19 related items, and an amnesty scheme for small and medium taxpayers to reduce late fee burden on them.
Held via video conferencing, the meeting was chaired by finance minister Nirmala Sitharaman. It was also attended by minister for state (MoS) for finance Anurag Thakur, finance ministers of states and UTs and senior officers from Centre and states.