After the GST cut

In a single-agenda meeting on Saturday, the Goods and Services Tax (GST) Council decided to reduce GST on a range of Covid-related items. Based on suggestions made by a group of ministers, the Council reduced GST on drugs such as Tocilizumab and Amphotericin B from 5 per cent to nil. GST on Remdesivir has been lowered from 12 per cent to 5 per cent. Medical-grade oxygen, ventilators, and Covid testing kits too will be taxed at 5 per cent. Further, GST on ambulances has been reduced to 12 per cent compared to the existing rate of 28 per cent. But the Council decided not to touch Covid vaccines......

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