After the GST cut

Council should address structural shortfall in revenue

Topics
Goods and Services Tax | Coronavirus Vaccine | GST rate

Business Standard Editorial Comment  |  New Delhi 

In a single-agenda meeting on Saturday, the Goods and Services Tax (GST) Council decided to reduce GST on a range of Covid-related items. Based on suggestions made by a group of ministers, the Council reduced GST on drugs such as Tocilizumab and Amphotericin B from 5 per cent to nil. GST on Remdesivir has been lowered from 12 per cent to 5 per cent.

Medical-grade oxygen, ventilators, and Covid testing kits too will be taxed at 5 per cent. Further, GST on ambulances has been reduced to 12 per cent compared to the existing rate of 28 per cent. But the Council decided not to touch Covid ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sun, June 13 2021. 23:30 IST
RECOMMENDED FOR YOU
.