5% GST To Continue On Covid Vaccines, No Tax On Black Fungus Medicine - The Sikh Times
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5% GST To Continue On Covid Vaccines, No Tax On Black Fungus Medicine

New Delhi: June 12, 2021 Tax on medicines, some hospital equipment and other items needed in the fight against COVID-19 has been reduced by the Goods and Services Tax Council. The tax cut is based on recommendations by a Group of Ministers amid the pandemic, whose crippling effects on the economy has also hurt household finance, the constitutional body that decides rates for the GST has said.No tax will be charged for medicines like the monoclonal antibody Tocilizumab and Amphotericin B, used for treating Black Fungus, an opportunistic fungal disease that affects people infected with Covid.The tax cuts are valid till September 30, and may be extended nearer the deadline. Covid vaccines continue to be charged a GST of 5 per cent.

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