The Ministry of Finance on July 15, 2020 has issued a press release to provide clarification on GST rates applicable on alcohol-based hand sanitisers. The Ministry has further clarified that the GST rates applicable on alcohol-based hand sanitisers is 18 percent which has been decided by the Central and State Government.
Further, the Ministry stated that the rates of GST cannot be reduced since it will affect the domestic manufacturers and the import of the sanitisers, thus leading to inverted duty structure. Thus, the sanitisers will become cheaper affecting the policy on Atmanirbhar Bharat. Plus, consumers would not be able to take benefits from lower GST rates.
Get all CBIC Updates in one place, Subscribe us to never miss an update from CBIC, Goal of AVACOM for compliance officers is to understand legal updates in India and how the company needs to file the compliances to avoid fines and penalties, it is achieving that goal, so it can be documented and as necessary, shown to regulators or other stakeholders who might be asking about the company’s compliance program.
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