Consumers will continue to pay the Compensation Cess along with GST levied on products like automobiles, tobacco products and aerated water till March 2026.
Concessional tax rates on COVID-19 essential medicine like Tocilizumab, Amphotericin B and Remdesivir extended till December 31st.
Muscular atrophy drugs like a Zolgensma and Viltepso that cost around ₹16 crore are exempted from GST.
Import of leased aircraft exempted from IGST.
5% GST to be levied on food delivery apps.
Tax on fortified rice kernels for ICDS scheme reduced from 18% to 5%.
GST on cancer drugs like Keytruda was cut from 12% to 5%.
GST on footwear costing less than Rs.1000 and ready-made garments and fabrics have increased to 12% from 5%. It will come in effect from January 1st
Bricks would attract GST at the rate of 6% without input tax credits under the scheme, or 12% with input credits.
Formation of two group of ministers
The Council has decided to form two groups of ministers (GoMs) To shore up GST revenues.
They have to recommend measures within two months.
The first one has been tasked with reviewing tax rate rationalisation issues to correct anomalies in the rate structure.
The other will look to tap technology to improve compliance and monitoring. This will look at e-way bills, Fastags, compliance and composition schemes to plug loopholes.
