GST Council Meeting-Eatables in cinema halls, Cancer drugs may become cheaper

The 50th Meeting of Goods and Service Tax (GST) will be held on 11th July 2023 in Delhi where several points including eatables in cinema halls and tax-free cancer drugs tax-free can be discussed.

According to some media reports, the council can reduce GST on food items from 18% to 5%.

Reports said that Dinutuximab, the drug used in treatment of cancer, could be expempted from tax. The price of this medicine is currently Rs26 lakh including 12% GST.

Special medical products and medicines which were imported could also be kept out of the GST purview.

Private companies providing satellite launching services could also be made tax-free.

The government had earned Rs1.61 lakh crore last month with 12% increment and Rs1.57 lakh crore in May this year. This GST collection stood at Rs1.44 lakh crore in June 2022.

GST is an indirect tax that was introduced on 1st July 2017 in India to replace a Variety of previous indirect tax (VAT), Service tax (ST), Purchase tax (PT), Excise duty (ED) and other indirect tax.