New Delhi: The GST Council headed by Finance Minister Nirmala Sitharaman has allowed black fungal medicine to be taxfree. While the tax rate on many other things related to corona has been reduced from 12 percent to 5 percent. GST Council has reduced the tax rate on medical grade oxygen, oxygen concentraters, ventilators, pulse oximeters, covid testing kits and specified inflammatory diagnostic kits and remdesivir from 12% to 5%. While Tosilizumab, amphotericin is tax free.

However, the GST Council has retained 5% GST on corona vaccine. Addressing a press conference after the meeting, the Finance Minister said, "The Central Government is purchasing 75 per cent of the vaccine and is also filling up GST. This 75 percent vaccine, which is being provided free of cost to individuals in Government hospitals, will not have any effect on the people. With this, the GST rate on ambulances has been reduced from 28 percent to 12 percent.

It may be recalled that in view of the impact of corona in India, the 44th meeting of the GST Council was held today through video conference. Apart from Finance Minister Nirmala Sitharaman, Minister of State for Finance Anurag Thakur and officials of the Finance Ministry were present. Finance Ministers of States and Union Territories, senior officers of Central and State Governments also attended the meeting. As a result, the Report of the Group of Ministers for Tax Exemption on Corona Relief Material was discussed and a decision on tax exemption was taken.

GST Council Meet: 5 pc rate on COVID vax unchanged, No tax on Black Fungus drugs

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