Amnesty Scheme, Return Filing Eased: Key Takeaways From GST Council Meeting

GST Council Meeting Key Takeaways: Finance Minister announced that the integrated goods and services tax (IGST) is exempted on free COVID-related essential items till August 31, 2021.

The goods and services tax (GST) Council meeting was held today after a gap of almost eight months, amid the ranging second wave of the COVID-19 pandemic in the country. While addressing a press conference after the Council meeting concluded, Ms Sitharaman announced that the integrated goods and services tax (IGST) is exempted on free COVID-related essential items till August 31, 2021. (Also Read: Decision On Tax Cuts On Covid Vaccines By June 8, Says Government )Due to the surge in the number of Black Fungus cases across the country, the duty on import of the medicine- Amphotericin B, used to cure Black Fungus, is exempted. Finance Minister Nirmala Sitharaman chaired the 43rd GST Council meet today through a video conference and representatives including seniors officials and finance ministers of states and union territories attended the meeting. This copy is being updated.