Image Source : PTI/PIXABAY Union finance minister Nirmala Sitharaman
The all-powerful Goods and Services Tax (GST) Council on Tuesday decided to exempt cancer-fighting drugs and medicines for rare diseases from the levy.
The panel, headed by the Union finance minister Nirmala Sitharaman and comprising representatives of all states and UTs, also lowered the service tax levied on food and beverages consumed in cinema halls to 5 per cent and tweaked the definition of an SUV for attracting a cess over and above the GST rate.
Now, the SUV definition will include only the length (4 meters and above), engine capacity (1,500 cc and more), and ground clearance (unladed clearance of 170 mm and more), she said.
On the tax levied on food and beverages served in cinema halls, the GST Council decided to levy 5 per cent GST, equivalent to the tax on restaurants, and not 18 per cent as is applicable on cinema halls.
This is a developing story. More details will be updated.
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