The finance ministry has notified the new reduced goods and services tax (GST) rates on Covid essentials but remained silent on the rates of the items that are with the stockists.
The reduced rates, which have come into immediate effect, will remain in force till September 30, 2021.
“It is better that the government should clarify for no disputes… stockists should be allowed refund as they have paid higher rates of GST on stocks prior to the latest notification and will be selling at a lower rate,” Bimal Jain, tax expert, said.