GST Council cuts tax on COVID-19 medicines,and  medical equipments

The GST Council on Saturday slashed the tax rate on COVID-19 medicines such as Remdesivir and equipment like oxygen concentrators and medical grade oxygen.

It is, at MOST, a consultation on the Saturday of the reduced rates of the COVID-19 drug Remdesivir, as well as the equipment, because the medical-grade oxygen concentrator.

While the MOMS in the Tocilizumab, and Amphotericin be reduced to zero, with the 5 per cent level of Remdesivir and anticoagulants like Heparin are as a drop from 12% to 5%.

The rate of medical oxygen, oxygen concentrators, ventilators, BiPAP machines, and high precision, the nasal cannula (HFNC) has been reduced from 12 per cent to 5 per cent, finance Minister Nirmala Seetharaman said.

In addition, the tax rate for Covid testing has been reduced from 12 per cent to 5 per cent. Pulse oximeters, hand sanitizers, thermal, equipment, monitoring, and protection, and are, in general, less than 5 per cent of the tax, " he said.