45th GST Council Meet Highlights, Zomato, Swiggy And Other Food Delivery Apps To Pay 5 % Tax

45th GST Council Meet, 45th GST Council Meet Highlights, 45th GST Council Meeting Outcome, Food aggregator apps like Zomato Swiggy to pay GST, GST Council Meet, GST Council Meet Highlights, GST Council Meeting 2021 Highlights, GST Council Meeting Highlights, Highlights from 1st physical GST Council meet, Mango News, Nirmala Sitharaman, Swiggy And Other Food Delivery Apps To Pay 5 % Tax, Tax reduction on life saving drugs, Union Finance Minister of India, Zomato, Zomato & Swiggy to pay GST but no new tax added

Ms. Nirmala Sitharaman, the Union Finance Minister of India, on the 17th of September, chaired the 45th Goods and Services Tax (GST) Council Meet.

Held in Lucknow, the GST Council Meet took crucial decisions for the economic situation of India.

The major highlights of the 45th GST Council Meeting involved the petrol and diesel issue, restaurant taxes and others.

  • Ms. Nirmala Sitharaman said the GST Council decided not to bring petrol and diesel under the GST regime. 
  • Concessional GST rates on COVID-19 related medicines such as Amphotericin B, Tocilizumab would continue till the 31st of December.

Amphotericin B -nil

Remdesivir – 5%

Tocilizumab -nil

Anti-coagulants like Heparin – 5 %

  • The council cut the GST rate from 12 % to 5 % on cancer related drugs and on fortified rice kernels to 5 % from 18 %. 
  • In addition, the concessional regime for certain medical equipment will end on the 30th of September.
  •  The GST council also approved the proposal of treating food delivery apps such as Zomato and Swiggy as restaurants, levying a tax of 5 %. At present these apps are registered as TCS, or Tax Collected at Source, in GST records.  
  • Imports of leased aircraft have also been exempted from payment of I-GST.
  • The GST rate on bio diesel for blending in diesel was reduced to 5 % from 12 %, while the national permit fee for goods carriage has been exempted from GST. 
  • The GST Council also decided to levy 18 % GST on all sorts of pens. 
  • Specified renewable sector devices will be charged a 12 % tax from now onwards. 
  • The GST council also recommended new footwear and textile rates from the 1st of January 2021.

As of now, these changes were made into the GST on Indian communities.  In addition,  the Union Finance Minister constituted two groups of ministers, which would look into certain changes in the GST regime. 

While the first group would be looking at rate rationalisation issues, the second group would look into related issues of e way bills, fastags, technology, compliance, composition schemes.

Both groups would submit a  detailed report in their research and observations in the next 2 months.

With this, since 2019, the Wuhan virus pandemic regime, this is the first time that GST Council meet held in person, instead of virtual. 

Mango News Link

Telegram: https://t.me/mangonewsofficial

Google Play Store: https://bit.ly/2R4cbgN

Apple / iOS Store: https://apple.co/2xEYFJ

LEAVE A REPLY

Please enter your comment!
Please enter your name here