GST council meeting UPDATE: MoF forms 8-member team to examine tax exemption on COVID-19 material

GST council meeting UPDATE: MoF forms 8-member team to examine tax exemption on COVID-19 material

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A Group of Ministers (GoM) has been assigned to examine the issue of GST concession/exemption to COVID-19 relief material. The Ministry of Finance has tweeted the information on May 29. This decision was taken after the GST meeting, which was conducted on Friday, May 28. The 8-member team includes the chief minister, deputy chief ministers, and finance ministers of States and UTs.

The Ministry of Finance tweeted, “As a follow up of the decision of the GST Council at its 43rd meeting, a Group of Ministers (GoM) has been constituted to examine the issue of GST concession/exemption to COVID-19 relief material.”

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The deadline to submit the report is till June 08, 2021. The GoM will examine the need for GST concession/exemption and make recommendations on COVID-19 vaccines, drugs and medicines for COVID-19 treatment. This also includes testing kits for COVID-19 detection.

Finance Minister Nirmala Sitharaman chaired the 43rd Goods and Services Tax (GST) Council meeting via video conferencing on Friday, 28 May. Apart from the Union Finance Minister, the meeting was attended by State Finance Minister Anurag Thakur, Finance Ministers of States and UTs, and Senior officers from Union Government and States.



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