India GST Panel Reduces Tax Rate on Some Medical Items

An oxygen concentrator next to a Covid-19 patient. (Photographer: Sumit Dayal/Bloomberg)

India GST Panel Reduces Tax Rate on Some Medical Items

Bookmark

India’s Goods and Services Tax panel reduced the tax rate on some medical items, according to Finance Minister Nirmala Sitharaman.

The GST Council cut the tax rate on ambulances to 12% from 28% now, Sitharaman said in a press briefing on Saturday.

The levy on various medical equipment including medical grade oxygen, oxygen concentrators and ventilators, as well as antiviral drug remdesivir, was lowered to 5% from 12%, she said.

The panel exempted the tocilizumab and amphotericin drugs from the value added tax, the finance minister said.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.