CNBC-TV18: Sources says Fitment Committee not in favour of reducing COVID vaccine GST rates

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As per the recent tweet of CNBC-TV18, Sources says the GST Council is set to meet on May 28, 2021 to take up a number of COVID-related recommendations:

  • No proposal to lower rates for hand sanitisers, ventilators, masks, PPE lits, RT-PCR machines
  • Fitment Committee may recommend status quo on rates for COVID-19-related Drugs
  • Discussion on GST slabs not on the agenda of GST Council’s May 28 meet
  • No proposal for inclusion of ATF, natural gas & petroleum crude under GST
  • GST rate cut proposed for medical grade oxygen, oxygen concentrators, pulse oximeters, COVID testing kits. Proposed GST rate at 5% Vs current rate of 12%
  • IGST exemption if goods are supplied to centre, state govts. IGST exemption possible if supplies are not to profit hospital for COVID

Sources tell us that the Fitment Committee is not favour of reducing GST rates on COVID vaccines, rates are likely to remain at 5%.

Source from: https://twitter.com/CNBCTV18Live/status/1397102743844651011

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