No tax on black fungus medicine, 5% GST on vaccine: Nirmala Sitharaman

Nirmala Sitharaman, while explaining the decision taken in the GST Council, said that no changes have been made in the GST on the corona vaccine.

New Delhi. After the 44th meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman, it was decided to retain the 5 percent GST rate on the corona vaccine. In the press conference after the meeting, the Finance Minister said that the GST Council has approved making black fungus medicine tax free.

Apart from this, the GST Council has approved the proposal to reduce the GST on Remdesivir drug from 12 percent to 5 percent. The rate of GST on oximeters, medical grade oxygen and ventilators has also been reduced from 12 percent to 5 percent.

Sitharaman said that 75 percent of the vaccine is being provided free of cost and the central government is buying 75 percent of the vaccine and is also paying GST on it. The 75 percent vaccine that is being provided to the people in government hospitals free of cost will not have any effect on the public.

Sitharaman said that the GST on electric furnaces and temperature checking equipment has been reduced to 5 percent and on ambulances to 12 percent. These rates will be valid till September. The Group of Ministers (GOM) had recommended reduction in these by August.

Let us inform that in the last meeting held on 28 May, it was decided to constitute a Group of Ministers to provide tax relief on essential items related to Kovid including PPE kits, masks and vaccines. Significantly, the GoM had submitted its report on June 7.

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