43rd GST Council decisions
Recommendations by the GST Council in its 43rd meeting held on May 28, 2021
1. Exemptions/Rate changes
IGST exemption till August 31, 2021, for the COVID-19 related goods such as:
- Medical oxygen
- Oxygen concentrators
- Oxygen storage and transportation equipment
- Certain diagnostic markers test kits
- COVID-19 vaccines, etc.
The exemption would be available even if such goods are imported on payment basis, for donating to the government or on the recommendation of State authority to any relief agency.
• Previously IGST exemption was applicable only when these goods were imported ‘free of cost’ for free distribution which has also been extended till August 31, 2021.
• The above goods are already exempt from BCD.
• IGST exemption also extended to Amphotericin B because of rising Black Fungus cases.