The GST Council’s 50th meeting was held in Delhi on July 11, 2023, under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the following recommendations to clarify the GST rates:
- It has been decided to exempt IGST on Dinutuximab (Quarziba) medicine when imported for personal use.
- It has been decided to exempt IGST on medicines and Food for Special Medical Purposes (FSMP) used in the treatment of rare diseases enlisted under the National Policy for Rare Diseases, 2021 when imported for personal use subject to existing conditions. Similarly, IGST exemption is also being extended to FSMP when imported by Centres of Excellence for Rare Diseases or any person or institution on the recommendation of any of the listed Centres of Excellence.
- It has been decided to regularize the matters relating to trauma, spine and arthroplasty implants for the period prior to 18.07.2022 on “as is basis” in view of genuine interpretational issues.
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1938812