Thursday, July 29, 2021

GST on Covid items exempted and dropped

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Guwahati, June 13 (NKTV): Finance Minister Nirmala Sitharaman yesterday informed that the GST Council has agreed to completely exempt antifungal drug Amphotericin – B and antiviral drug Tocilizumab from any kind of GST. She also informed that GST Remdesivir has been reduced from 12 per cent to five per cent.

Also, GST on anticoagulant Heparin and any other specified drug recommended by the Health Ministry for Covid-related treatment will stand reduced at five per cent.

Nirmala Sitharaman said that the GST Council also agreed to reduce GST from existing 12 per cent to five per cent on medical grade Oxygen, Oxygen generation equipment and related medical devices. In addition to this, COVID testing kits, Pulse Oximeters, Temperature checking equipment and Hand Sanitisers would also now cost cheaper as GST on them have been reduced to five per cent.

The Council also agreed to cut down GST on Ambulances from existing 28 per cent to 12 per cent and on electric and gas furnaces for crematoriums from 18 per cent to five per cent. The GST Council also extended the timeline of exemptions and GST reductions on Covid-related equipment and drugs till September this year.

These decisions were taken in the 44th GST Council Meeting.

Inputs from AIR

Featured Image: Representative

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