No Tax Exemption for COVID Vaccines: Govt notifies revised GST Rates for COVID-19 Items [Read Notification]

GST Rates - COVID-19 Medicines - Taxscan

The Government notified the GST rates on every Covid essential from Medicines to its key Equipments as a result of the key proposals made in the 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister, Nirmala Sitharaman.

In its 44th meeting on Saturday, the Goods and Services Tax (GST) Council, chaired by Finance Minister Nirmala Sitharaman, approved all recommendations of the Group of Ministers (GoM) set up to deliberate tax relief on COVID-19 essentials.

However, while most of the medicinal supplies got a tax cut, the Council has retained the 5% GST on COVID-19 vaccines.

As per the government’s recent notification no GST will be applicable on Black Fungus Medicines namely Tocilizumab and Amphotericin B.

The government notified that the 5% GST/ IGST will be applicable on Medical Grade Oxygen; Remdesvir; Heparin (anti-coagulant); Covid-19 testing kits; Inflammatory Diagnostic (marker) kits, namely- IL6, D- Dimer, CRP (C-Reactive Protein), LDH (Lactate De- Hydrogenase), Ferritin, Pro Calcitonin (PCT) and blood gas reagents; Hand Sanitizer; Helmets for use with non-invasive ventilation; Gas/Electric/other furnaces for crematorium; Pulse Oximeter; High flow nasal canula device; Oxygen Concentrator/ generator; Ventilators; BiPAP Machine; Non-invasive ventilation nasal or oronasal masks for ICU ventilators and Canula for use with ventilators; and Temperature check equipments.

It is further notified that 12% GST/ IGST will be applicable on Ambulances.

This notification shall remain in force up to and inclusive of the 30th September, 2021.

The 43rd GST council meeting on 28 May was conducted after a gap of almost eight months. The earlier one – 42nd GST Council meeting, was held last year, on 5 October, 2020.

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