Nirmala Sitharaman: The GST Council has decided to reduce GST on cancer medicines. On Monday It was chaired by Finance Minister Nirmala Sitharaman This decision has been taken in the 54th meeting of the GST Council. Now on cancer medicines 5% GST will be levied instead of 12%. Apart from this The GST Council has No decision has been taken yet regarding the GST on premium payment of health and life insurance. However, now only 5% GST will have to be paid instead of 18% for using helicopter service for religious tours.
The issue of GST on insurance has been sent to the Group of Ministers
In the GST Council meeting chaired by Finance Minister Nirmala Sitharaman with the Finance Ministers of the states, there was a discussion on reducing the GST on premium payment of Health Insurance and Life Insurance. After this, the issue has been sent to the Group of Ministers (GOM) for further study. The GOM will have to prepare its report by October 2024. This issue will be discussed in the GST Council meeting to be held in November 2024.
Now you will have to pay 5% on helicopter service for religious travel
In the GST Council meeting held on Monday, relief has also been given to those who go on religious pilgrimage. Now, instead of 18 percent, only 5 percent GST will have to be paid for using helicopter services for religious travel. Uttarakhand Finance Minister Premchand Aggarwal has given this information to ANI. He said that the GST Council has accepted our demand. However, this facility will be available only to those who take sharing helicopter service. Only 18 percent GST will have to be paid for taking chartered helicopter service.
The issue of GST on research grants was sent to the Fitment Committee
The GST Council has currently referred the issue of GST on grants received by educational institutions for research to the Fitment Committee. The GST Council will take a decision on this after receiving the report of the committee. Apart from this, the matter of GST on online payment has also been sent to the Fitment Committee. This issue has been in discussion for quite some time. The last meeting of the GST Council was held on 22 June 2024. Apart from the Union Finance Minister, the Finance Ministers of all the states are included in this committee.
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GST Council: Good news for those who go on religious journey, helicopter service will become cheaper, GST has been reduced
