Notification No. 01/2021 – Central Tax (Rate)

GST Rate Amendment for Pharmaceuticals: The Central Government, based on Council recommendations, introduces amendments to GST rates for pharmaceutical products.

Specific Change in Schedule I: Schedule I witnesses a specific change in entry 259A, where the code "9503" replaces the previous entry, impacting the GST rate applicable.

Addition to List 1: A notable addition is made to List 1 after serial number 230. Diethylcarbamazine is included, specifying its tax treatment under the revised GST framework.

Effective Date: The amended notification takes effect from June 2, 2021, marking the initiation of new GST rates for the mentioned pharmaceutical products.

Official Communication: The notification, signed by Rajeev Ranjan, Under Secretary to the Government of India, is a clear and official communication of the changes in GST rates for pharmaceuticals.

Transparent Governance: The amendments are communicated through the Gazette of India, emphasizing the government's commitment to transparent and accessible governance.

Continued Regulatory Adjustments: This regulatory adjustment reflects the government's ongoing efforts to streamline and adapt tax structures, ensuring relevance and fairness in the pharmaceutical sector.