New Delhi, 12/6 (AO Bureau): Finance Minister Nirmala Sitharaman said that the GST Council has agreed to reduce the tax rate on Remdesivir from 12 to 5 percent. There will be no tax on Tocilimab, Amphotericin. He said that the rate of GST on ambulances has been reduced from 28 percent to 12 percent. The rate of GST on oximeters, medical grade oxygen and ventilators has also been reduced from 12% to 5%.
Giving information about the 44th GST Council meeting, Nirmala Sitharaman said that the GST Council has agreed to maintain the tax rate of five percent on vaccines. The Finance Minister said that the Center will buy 75% of the vaccine and also pay its GST, but 70% of the income from GST will be shared with the states.
Finance Minister Nirmala Sitharaman said that the central government is buying 75% of the vaccine and is also paying GST on it. This 75% vaccine which is being provided free of cost to the people in government hospitals will not have any effect on the public.