GST Council Meet Highlights: Covid-19 relief material, black fungus drug exempted from tax; return filing simplified

by Emma

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The GST Council will meet after a gap of nearly seven months.

GST Council Meeting Highlights: The 43rd GST Council meet was held earlier today where the council decided to exempt certain covid-19 relief material from IGST till August end. The council also decided that certain drugs used to fight black fungus will also be given exemption. Finance Minister Nirmala Sitharaman said that a Group of Ministers (GoM) will be formed that will discuss and decide on the matter of taxation on covid-19 related materials. The GoM will submit a report by June 8. Further, the GST Council will meet ahead to discuss the extension of Compensation Cess that is due to end in 2022.

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