Recommendations of 45th GST Council Meeting: Press Release

Dated September 17, 2021

The GST Council’s 45th Meeting was held on September 17, 2021. In this regard, a press release was issued to provide various recommendations. Few of the recommendations are summarized below:

(a) Reduction of GST rate to 5% on more Covid-19 treatment drugs such as Favipiravirv, Infliximab, etc. & Concessional GST rates on drugs which was currently valid till 30th September, 2021 is extended up to 31st December, 2021

(b) Services by cloud kitchens/central kitchens to be covered under ‘restaurant service’ and would attract GST @ 5% (without ITC)

(c) Overloading charges at toll plaza are exempt from GST being akin to toll

(d) Relaxation in requirement of filing Form GST ITC-04 – Taxpayers with annual aggregate turnover in preceding financial year upto Rs. 5 crores would be required to furnish ITC-04 annually; and others half yearly

(e) Interest to be charged @ 18% on ineligible ITC availed and utilized w.e.f. 01.07.2017

(f) Clarifications to be followed on ongoing issue of ‘scope of intermediary services’

For more, follow the link to open the press release.