GST Council Cuts Rates On COVID Supplies, No Tax On Black Fungus Medicine

Based on the recommendations of the group of ministers (GoM) - constituted to deliberate on the tax rates of COVID-related essential items, the GST Council today cut tax rates on most supplies and exempted the medicines for treating the black fungus infection off GST. The Council decided that tax cuts are valid till September 30, and can be extended further upon nearing the deadline. While most of the medicinal supplies got a tax cut, COVID vaccines will continue to attract a five per cent GST.