New Delhi: The GST Council on Saturday slashed the tax rate on COVID-19 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%, the rate on Remdesivir and anti-coagulants like Heparin is lowered from 12% to 5%.
Tax on medical grade oxygen, oxygen concentrators, ventilators, BiPAP machines and high flow nasal cannula (HFNC) devices has been cut to 5% from 12%, finance minister Nirmala Sitharaman said. Tax on COVID testing kits has also been brought down from 12% to 5%.
Pulse oximeters, hand sanitisers, temperature check equipment and ambulances too will attract lower 5% tax, she said.
(PTI)