Tue Sep 10 19:50:27 UTC 2024: ## GST Council Cuts Taxes on Cancer Drugs, Namkeens, and Religious Travel

The 54th GST Council meeting concluded with significant tax cuts on various items and services, announced by Finance Minister Nirmala Sitharaman. These changes will be applied prospectively, meaning they will take effect immediately.

**Cheaper Cancer Medications:**
The GST on cancer drugs Trastuzumab Deruxtecan, Osimertinib, and Durvalumab has been slashed from 12% to 5%. This move aims to alleviate the financial burden on patients battling cancer.

**Snacks and Savoury Treats:**
GST on namkeens and savoury food products will be reduced from 18% to 12%. Unfried or uncooked snack pellets will continue to be taxed at 5%.

**Affordable Religious Travel:**
Helicopter services for religious travel, particularly to destinations like Kedarnath and Badrinath in Uttarakhand, will now be taxed at 5% instead of 18%.

**Increased Tax on Car Seats:**
The GST on car seats classified under 9401 has been raised from 18% to 28%, bringing it in line with the uniform rate for all car seats.

**Tax Exemption for Research Funding:**
Research funding for higher educational institutions and research centers established by state or central government laws will now be exempt from GST.

These tax changes are expected to have a positive impact on various sectors, from healthcare to tourism and education. The GST Council’s decision to reduce taxes on cancer medications and religious travel reflects a commitment to affordability and accessibility, while the increased tax on car seats aligns with the government’s focus on road safety.

Read More