Connect with us

Trending

Black fungus drug tax-free, 5% GST on corona vaccine retained

Published

on

Finance Minister Nirmala Sitharaman, approved making black fungus medicine tax free. At the same time, the tax rate on many other things related to Corona has been reduced.
0 0
Read Time:1 Minute, 27 Second

The recommendations of the Group of Ministers on relief material related to Corona were accepted by the GST Council today. The GST Council, chaired by Finance Minister Nirmala Sitharaman, approved making black fungus medicine tax free. At the same time, the tax rate on many other things related to Corona has been reduced.

Black fungus drug tax-free, 5% GST on corona vaccine retained
Image Source- Google | Image By- The Wire

5% GST on corona vaccine retained

GST Council has retained 5% GST on Corona Vaccine. In the press conference after the meeting, Nirmala Sitharaman clarified that the central government is procuring 75% of the corona vaccine. GST is also being given on it, but when it will be given free of cost to the general public through government hospitals and will not have any effect on the public.

However, there has been a demand from states like Delhi, West Bengal and Orissa to abolish GST on the corona vaccine time and again.

Tocilizumab and Amphotericin B Drug Tax Free

Black fungus drug tax-free, 5% GST on corona vaccine retained
Image Source- Google | Image By- Business Standard

In view of the increasing cases of black fungus in the country, the council has reduced the rate of GST on the drug Amphotericin B, which is used in its treatment, to zero. At the same time, the tax on Tocilizumab has also been reduced to zero. Whereas the GST rate on Remdesivir and other anticoagulant drugs such as Heparin has been reduced from 12% to 5%.

Affordable from oxygen to testing kit

The GST Council has also reduced the tax rate on other relief materials related to Corona. Medical grade oxygen, oxygen concentrators, ventilators, biPAP machines, high flow nasal cannula (HFNC) and COVID testing kits will now become affordable. The council has reduced the tax rate on these from 12% to 5%.

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Continue Reading
Click to comment

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Your email address will not be published. Required fields are marked *