GST rates slashed on various Covid-related items: Full list
Key decisions were taken during the 44th GST Council meeting on Saturday
The Goods and Services Tax (GST) Council, under the leadership of finance minister Nirmala Sitharaman, decided to reduce the rate of GST charged on medicine, equipment, and vaccines that are being used all over the country to strengthen the ongoing fight against Covid-19. These new tax rates are applicable till September 30, 2021.
Listed below are the key decisions that were taken during the 44th GST Council meeting on Saturday:
For Covid-19 related relief materials
Pulse oximeters, hand sanitisers, temperature check equipment, and gas, electric, and other crematoriums will attract a 5 per cent tax. The present GST rate on oximeters is 12%; hand sanitisers, temperature checking equipment, crematoriums used to charge 18%. The GST rate levied on the purchase of ambulances has also been brought down from a whopping 28% to 12%.
No GST will be levied on Tocilizumab and Amphotericin-B, two key drugs needed to treat mucormycosis or black fungus. Previously, a 5% tax was levied on them.
For anticoagulants like Heparin, Remdisivir, and any other drug that might be recommended in the future by the Union ministry of health and family welfare for treatment of Covid-19, a GST rate of 5% will be applicable. Drugs like Heparin and Remdesivir have so far attracted a 12% tax rate.
Also Read: GST Council meet: No tax on Black Fungus medicine
Tax on medical grade oxygen, oxygen concentrators, ventilators, ventilator masks, canulas, helmets, BiPAP machines and high flow nasal cannula (HFNC) devices has been cut to 5% from the existing 12%.
For Covid-19 testing kits and machines
GST rate on Covid-19 testing kits and specified inflammatory diagnostic kits has been slashed from 12% to 5%.
For Covid-19 vaccines
Sitharaman said Covid-19 vaccines will continue to attract 5% GST.