GST Council Reduces Tax On Rice Kernels, Exempts Gene Therapy

Union Finance Minister Nirmala Sitharaman announced the GST Council’s approval to reduce the GST on rice kernels from 18% to 5%, benefiting weaker sections through public distribution. She also stated that life-saving gene therapy would be exempted from GST, and the exemption for parts used in manufacturing surface-to-air missiles (SAM) would be extended.