What is cheaper and costlier after the latest GST Council meeting?

The 54th GST Council meeting, held in New Delhi on Monday (September 9, 2024) announced several changes to the existing Goods and Services Tax (GST) slabs. The most notable among these was the reduction in cancer drugs.

The Council decided to reduce the GST rate on cancer drugs Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 12% to 5%.

The Council has also recommended to exempt the supply of research and development services from GST. This includes research and development services by a government entity, research association, university, college or other institution, notified under Section 35 of the Income Tax Act, 1961, which deals with expenditure on scientific research.

Namkeens, or savoury snacks, will also become cheaper after the GST on extruded/expanded savoury food products is reduced from 18% to 12%. Unfried/uncooked snack pellets will continue to attract a GST rate of 5%.

Source : https://www.thehindu.com/news/national/gst-what-is-cheaper-and-costlier/article68628688.ece