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GST Council Meeting: The 54th meeting of the GST Council was held on Monday at Sushma Swaraj Bhawan in the capital. This meeting was chaired by Finance Minister Nirmala Sitharaman. Many important decisions were taken in the meeting. These include reduction in GST on cancer medicines, reduction in tax on snacks and formation of a committee to consider reduction in GST on medical insurance premium. Let us know here about the important decisions of the meeting…
-Tax on cancer medicines reduced
Announcing the decision to reduce GST on cancer drugs from 12% to 5%, the Finance Minister said that the government aims to make cancer treatment more affordable. After the GST Council meeting, Union Finance Minister Nirmala Sitharaman said, 'GST rates on cancer drugs are being reduced. It is being reduced from 12% to 5% to further reduce the cost of cancer treatment.
– Namkeen will be cheaper
In the meeting, it was decided to reduce the GST on some types of salt from 18% to 12%. This is expected to reduce the prices of these snacks.
-Formation of committee on insurance premium
The Finance Minister said that a new government committee will be formed to consider the issue of reduction in GST on medical insurance premium. This committee has to submit its report by the end of October
4. Relief to foreign airlines
The GST Council has decided to exempt import of services of foreign airlines from GST.
5. Helicopter service for religious trips will be cheaper
The GST Council has decided to reduce the tax on operating helicopter services for religious pilgrimages to five per cent. According to Uttarakhand Finance Minister Prem Chand Aggarwal, the tax on helicopter services carrying pilgrims to religious places like Kedarnath and Badrinath has been reduced from 18 per cent to 5 per cent.