New GST rates for Covid items notified

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June 16, 2021 8:04 AM

The union government has notified reduced central goods and service tax (CGST) rates for Covid medicines and other related medical essentials.

With the impact of the second Covid-19 wave waning and the vaccination drive making progress, parts of the economy are expected to look up from July.With the impact of the second Covid-19 wave waning and the vaccination drive making progress, parts of the economy are expected to look up from July.

The union government has notified reduced central goods and service tax (CGST) rates for Covid medicines and other related medical essentials.

The GST Council on Saturday decided to slash GST rates for Covid drugs, testing kits, medical equipment and even ambulances to provide relief to people amid the pandemic, but kept the tax on vaccines unchanged at the lowest slab of 5%. The new rates will be effective till September 30, 2021.

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