Covid: ‘5% GST on vaccines, rates reduced on other items’, says Sitharaman
Published on Jun 12, 2021 07:42 PM IST
A 5 percent GST levy on vaccines will continue which will allow manufacturers to get the benefit of settling taxes paid on inputs. Finance Minister Nirmala Sitharaman explained that the 5 percent levy will not put any additional burden on the common man as the government was procuring all vaccines and giving them to citizens for free. "It was felt that the GoM's recommendations have brought in a lot of substantial change. Many items, that were at 18 percent and 12 percent, brought down to 5 percent. So there was a lot of substance in the recommendation made by GoM. The Council largely agreed to go with GoM's recommendation...," Sitharaman said after the 44th GST Council meeting. Watch the full video for more details.