New Delhi: The GST Council on Saturday slashed the tax rate on Covid medicines such as Anti-Coagulants like Heparin, Remdesivir and equipment like oxygen concentrators, BiPAP Machine and medical grade oxygen.
The 44th GST Council met under the Chairmanship of Union Finance Minister Nirmala Sitharaman through video conferencing. Union Minister of State for Finance Anurag Thakur was also present at the meeting.
As per the official communication, GST on Tocilizumab and Amphotericin B is slashed to nil from 5 per cent, the rate on Remdesivir and anti-coagulants like Heparin is lowered from 12 per cent to 5 per cent.
Tax on Medical Grade Oxygen, Oxygen Concentrators/Generator, Ventilators, BiPAP Machines/Canula/Helmet and high flow nasal cannula (HFNC) devices has been cut to 5 per cent from 12 per cent, Finance Minister Nirmala Sitharaman said.
Also, tax on Covid testing kits and Specified Inflammatory Diagnostic Kits, namely D-Dimer, IL-6, Ferritin and LDH have been lowered to 5 per cent from 12 per cent.
Pulse oximeters, hand sanitisers, temperature check equipment and Gas/Electric/other furnaces for crematorium, including their installation, will attract lower 5 per cent tax, while on Ambulances GST has been reduced to 12 Percent from 28 percent.
The GST rates cuts will be applicable till 30th September, 2021.
Himachal Chief Minister Jai Ram Thakur has welcomed the decision of the 44th GST Council meeting to reduce the GST rates on the specified items being used in Covid-19 relief and management till 30th September, 2021.
