This was the first in-person physical meeting of the council since the Covid-19 Pandemic.

Highlights Of The 45th GST Council Meeting 

The 45th GST Commission assembly was held in Lucknow on 17th September 2021 and was chaired by Finance Minister Nirmala Sitharaman. This was the first in-person physical meeting of the council since the Covid-19 Pandemic. No provision of Video Conferencing was made for the meeting. 

The order of the Kerala High Court which stated to bring Petrol and Diesel under GST was discussed, however, the council concluded, that it was not the correct time to decide on such a matter. Petrol and Diesel prices, being at an all-time high, bringing them under GST would help bring down the cascading effect of tax on tax. Now, both State VAT and excise duty are charged. 

For medicines, tax concessions were given on life-saving drugs. Reduced GST Rates on Covid-19 drugs have also been extended till 31st December 2021, but medical equipment is not covered under this head. No GST is to be paid on Amphotericin B, Tocilizumab till the 31tst of December 2021. 

The Commission decided to reduce the GST rate on Itolizumab, Posaconazole, Infliximab, Bamlanivimab and Etesevimab, Casirivimab and Imdevimab, 2-Deoxy-D-Glucose and Favipiravir from 12 per cent to 5 per cent. On Restaurant Aggregators, the Finance Minister clarified that no new tax is being introduced. Now, Zomato and Swiggy and other aggregators are required to pay the 5% GST, which was being paid by the restaurants, as where the food is delivered will be a point where the tax is to be collected. The consumers will not be charged anything extra. 

Now, the GST regime issues shall be handled by 2 groups of ministers, One responsible for tax rate issues and the other on issues of e-way bills, fastags, technology, compliance, composition schemes.

GST compensation cess is extended till March 2026. GST on railways and locomotives has been increased to 18%. From 01st January 2022, The inverted duty scheme on footwear and textiles will be corrected.

Edited By Team CLIQTAX

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