During the 54th meeting of the GST Council chaired by Nirmala Sitharaman, several important decisions were made. The council reduced the GST rate on cancer drugs from 12% to 5%. The GST on selected savory snacks (namkeen) was reduced from 18% to 12%. The Finance Minister stated that the purpose of reducing the GST rate on cancer drugs is to lower the cost of cancer treatment.
The Finance Minister mentioned that the Group of Ministers (GoM) formed to rationalize rates and the GoM on real estate have submitted their status reports. She also presented the status on online gaming and casinos, noting that revenue from online gaming increased by 412% to ₹6909 crore in six months.
Finance Minister Sitharaman made these remarks while addressing the media after the 54th meeting of the GST Council at Sushma Swaraj Bhawan. She reiterated that the GST Council has recommended reducing the GST rate on cancer drugs from 12% to 5% and on savory snacks from 18% to 12%. Additionally, she mentioned that universities and research centers recognized by the central and state governments will no longer have to pay GST on grants received.