Considering the prohibitive cost of drugs for cancer treatment, Tamil Nadu’s Finance Minister Thangam Thennarasu supported the proposal to reduce the GST rate on gene therapy (CAR- T cell therapy) from 12 per cent to ‘Nil’ rate to alleviate the burden of cancer patients.
Emphasising the views of Tamil Nadu at the 55th GST Council meeting held at Jaisalmer on Saturday, the minister supported the proposal to exempt the composition tax payers from GST on renting of commercial property to registered persons payable on reverse charge mechanism.
Also read: GST Council Meeting Highlights
The minister stressed the need for development and sharing of MIS reports to all States for effective implementation of the Circular to clarify the recording of correct place of supply of online services to unregistered recipients, says a government release.
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Published on December 22, 2024
https://www.thehindubusinessline.com/news/tamil-nadu-supports-proposal-to-reduce-the-gst-rate-on-gene-therapy/article69013389.ece
