43rd GST Council chaired by Finance Minister Nirmala Sitharaman

The 43rd GST Council chaired by Finance Minister Nirmala Sitharaman made a Key decisions as follows:

1. GST Exemption to some COVID-19 supplies till 31st August 2021
2. A Particular Medicine for Black Fungus also exempted
3. GoM to be formed to check if further reductions to be given to new items, GoM to submit reports before 8th June
4. Amnesty Scheme with the reduced late fee to be launched for GST Small Taxpayers
5. Rationalization of Late fee for Small Taxpayers to be applicable to future liabilities
6. Annual Return form to be rationalized, Govt to amend CGST Rules
7. Annual Return filing to continue to be optional for Small Taxpayers
8. A Special Session on GST Compensation Cess before 22nd July 2021
9. GoM to consider GST Exemption on COVID Vaccines provided by private hospitals.