At the 55th Goods and Services Tax Council (GST) meeting held in Jaisalmer on Saturday, Tamil Nadu Finance Minister Thangam Thennarasu backed the proposal to reduce the GST rate on gene therapy (CAR- T cell therapy) from 12% to nil rate to alleviate the burden of cancer patients.
He also supported the proposal to exempt the composition tax payers from GST on renting of commercial property to registered persons payable on reverse charge mechanism. 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.
The meeting was attended by the Commercial Taxes secretary Brajendra Navnit, Commissioner of Commercial Taxes D.Jagannathan, and senior officers from the State.
Published – December 21, 2024 10:22 pm IST