Nirmala Sitharaman, India’s finance minister, chairs the 44th GST Council meeting on June 12, 2021. (Source: Finance Ministry's Official Twitter Handle)
5 years ago
Jun 12, 2021
Finance Minister Nirmala Sitharaman will chair the 44th meeting of the Goods and Services Tax Council today—the second such meeting in two weeks.
GST rate cut on Covid-related items is a step in the right direction. It is likely that the situation will be reviewed around September and if required, the rate cut will be extended for a further period. The sharing of revenue from GST on Covid vaccine by Centre with States is also a good move and will help the States financially.
Rajat Bose, Partner, Shardul Amarchand Mangaldas & Co.
GST on Covid-19 vaccines will remain unchanged at 5%, said Sitharaman.
The central government is paying for 75% of the vaccines, and all citizens can avail those free vaccines, the finance minister said. However, GST will have to be paid by those who go to private hospitals for vaccination.
