GST Council cuts tax on Covid medicines, equipment

New Delhi, June 12

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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