No tax will be charged for medicines like Tocilizumab and Amphotericin B, used for treating Black Fungus, the GST Council said
Tax on medicines, some hospital equipment and other items needed in the fight against COVID-19 has been reduced by the Goods and Services Tax Council. The tax cut is based on recommendations by a Group of Ministers amid the pandemic, whose crippling effects on the economy has also hurt household finance, the constitutional body that decides rates for the GST has said.
No tax will be charged for medicines like Tocilizumab and Amphotericin B, used for treating Black Fungus, an opportunistic fungal disease that affects people infected with Covid.
The tax cuts are valid till September 30, and may be extended nearer the deadline.
Covid vaccines continue to be charged a GST of 5 per cent.
Other medicines for which GST has been reduced include anti-coagulants like Heparin (from 12 per cent to 5 per cent), Remdesivir (from 12 per cent to 5 per cent) and any drug recommended by the Health Ministry for Covid treatment (from applicable current rate to 5 per cent).
GST has been slashed from 12 per cent to 5 per cent in these equipment: medical grade oxygen, oxygen concentrator and generator including personal import, ventilator, ventilator masks, Bipap machine and high-flow nasal canula device.