GST Council cuts tax on COVID-19 medicines, gear

Lucknow. The GST Council on Saturday slashed the tax charge on COVID-19 medicines akin to Remdesivir and gear like oxygen concentrators and medical grade oxygen. While GST on Tocilizumab and Amphotericin B is slashed to nil from 5 per cent, the speed on Remdesivir and anti-coagulants like Heparin is lowered from 12 per cent to five per cent.

Tax on medical grade oxygen, oxygen concentrators, ventilators, BiPAP machines and excessive stream nasal cannula (HFNC) gadgets has been minimize to five per cent from 12 per cent, Finance Minister Nirmala Sitharaman stated. Also, tax on Covid testing kits has been introduced down to five per cent from 12 per cent. Pulse oximeters, hand sanitisers, temperature verify gear and ambulances too will entice decrease 5 per cent tax, she stated.