NEW DELHI: The GST Council on Saturday slashed the levy on several goods used for treatment of Covid-19 – ranging from key medicines and oxygen to hand sanitizers, pulse oximeters and ambulances – while leaving the rate on vaccines unchanged at 5%.The new rates will be applicable for a limited period – until September. Union finance minister Nirmala Sitharaman said the move will not put any pressure on the common man.“Central government is purchasing 75% and is paying GST also. But the impact of this GST on people will be nil since people would be getting vaccines free of cost at government hospitals. “For the limited few considering getting vaccinated at private hospitals, the 5% GST will continue to be a factor,” he said. Deloitte India partner Mahesh Jaising said a 5% levy will ensure that the chain for giving credit for tax paid on inputs is intact.

Source: Economic Times June 12, 2021 20:43 UTC