Cancer Medicines Cheaper: GST Council Cuts Tax on 33 Lifesaving Drugs - Video
Overview
In a significant move aimed at reducing the treatment burden for patients battling cancer and rare genetic disorders, the GST Council has removed the 12% Goods and Services Tax (GST) on 33 expensive and life-saving medicines and diagnostic kits- making them completely tax-free, while other essential medicines, including those under Ayurveda, Unani, and Homoeopathy, will now attract a lower GST of 5% instead of 12%.
The rate on spectacles and corrective goggles has been slashed from 28% to 5%, while medical oxygen, thermometers, and surgical instruments will now be taxed at 5% instead of the earlier 12–18%. In addition, the GST on medical, dental, and veterinary devices has been cut from 18% to 5%, significantly reducing costs across a wide spectrum of healthcare services and products.
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These 33 Life-Saving Drugs, Including Daratumumab, Alectinib, Obinutuzumab, Now GST-Free, See List
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