GST Council gives relief for Covid materials, no change for vaccines

The GST Council at it's 44th meeting accepted the proposals and reduced rates on essential Covid drugs and materials but made no change to the taxes on vaccine. 

The GST meet chaired by the Finance Minister brought down tax rates on Covid essentials like temperature checking equipment, concentrators, and oximeters. Here are some of the changes-:

• No GST on Black Fungus drugs Amphotericin B, Tocilizumab
• GST on Remdesivir to be reduced to 5% from 12%
• GST on Covid testing kits reduced to 5% from 12%
• GST rate reduction on Medical grade oxygen, BiPaP Machines
• GST on ambulances will be reduced to 12% from 28%.

The council however decided that 5% GST on vaccines will stay. The Centre will buy the 75% vaccine as announced and will pay its GST too. But 70% of income from GST will be shared with States.