GST Council cuts tax on Covid medicines, equipment

New Delhi, June 12

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

While GST on Tocilizumab and Amphotericin B is slashed to nil from 5 per cent, the rate on Remdesivir and anti-coagulants like Heparin is lowered from 12 per cent to 5 per cent.

Tax on medical grade oxygen, oxygen concentrators, ventilators, BiPAP machines and high flow nasal cannula (HFNC) devices has been cut to 5 per cent from 12 per cent, Finance Minister Nirmala Sitharaman said.

Also, tax on Covid testing kits has been brought down to 5 per cent from 12 per cent.

Pulse oximeters, hand sanitisers, temperature check equipment and ambulances too will attract lower 5 per cent tax, she said. PTI