New Delhi: The 44th meeting of the GST Council led by Union Finance Minister Nirmala Sitharaman has taken a major decision to reduce the rate of GST on corona-related medicines, vaccines and other essential commodities such as ambulances etc. The Central Government has reduced the GST tax rates on all these essential commodities as per the requirement.

Briefing reporters in New Delhi, Finance Minister Nirmala Sitharaman GST said, the council has agreed to maintain the tax rate of 5 percent on vaccines. With this, the rate of GST on ambulances has been reduced from 28 percent to 12 per cent. He said that in addition, the Council has also agreed to reduce the tax rate on Remadesivir from 12 percent to 5 percent.

Sitharaman further said that the GST Council has reduced the tax rate on medical grade oxygen, BIPAP machines, oxygen concentraters, ventilators, pulse oximeters from 12 percent to 5 percent. On Tocilizumab and Amphotericin B, the Central Government has reduced the rate of GST to zero. Earlier, they were taxed at 5 percent.

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