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GST REDUCTION ON MEDICINES
Good news for diabetes & BP patients: Govt cuts prices of these 30 medicines, relief may reach pharmacies soonThe National Pharmaceutical Pricing Authority (NPPA) has fixed retail prices for 30 essential drug formulations, including those for diabet...- GST rate cuts from Monday to make food, medicines, cars and electronics cheaperStarting September 22nd, consumers will benefit from reduced GST rates on approximately 375 items, encompassing kitchen staples, electronic...
- Medicines, medical devices to get cheaper from Sept 22 under new GST regimeThe government has mandated pharma companies to revise the Maximum Retail Price (MRP) of medicines, formulations, and medical devices by Se...
- More patients can access key drugs after GST rate cutsRecent GST rate cuts on critical medicines are set to significantly reduce costs for treatments of conditions like multiple myeloma, lung c...
- Pharma sector hails GST cut as a landmark move toward affordable healthcareGST rates on 33 life-saving drugs have been reduced to zero, while rates on other medicines and diagnostics have been cut to 5%. The indust...
- GST cut on drugs, medical devices to provide relief to patients: Industry playersThe government is reducing GST on medicines and medical devices. Lifesaving drugs are exempt. This action will help patients and families. ...
- Drug, medtech companies fear GST changes may squeeze fundsPharma and medtech sectors are concerned about upcoming Goods and Services Tax changes. They anticipate higher operating costs and working ...
- GST Rate Cut: Tax on several mass-use products may be reducedA ministerial panel on GST is considering reducing rates on essential items like medicines and tractors to 5%. Health and term insurance ma...
- GST rate for COVID-19 medicines pegged at 5% GST: govtUnion Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that 66 per cent of government-sponsored health insurance scheme...
- More options to make up for GST shortfallThe Council may also extend GST rate reduction on Covid medicines till December 31, sources said.
- Covid-19 treatment cost to fall as GST rates cutThe new rates will be applicable for a limited period – until September. The reduction, which will include medicines, such as remdesivir an...
- GST Council cuts rate on Covid related materials to 5%, leaves vaccine rate unchanged“Centre is buying and will provide it free to the people, GST will not be levied on the vaccination,” finance minister Nirmala Sitharaman t...
- FM to chair GST Council meet tomorrow; tax cut on COVID essentials, black fungus medicine on agendaCouncil will discuss the report of the GoM on GST concessions on COVID-19 relief items like medical grade oxygen, pulse oximeters, hand san...
- GST Council to meet on June 12 to discuss tax cut on COVID essentials, black fungus medicineIn the previous meeting on May 28, the Council, which has state ministers as members, a Group of Ministers (GoM) was set up to recommend ta...
- GoM suggests cut in GST on Covid relief material to 5 per centThe GoM, headed by Meghalaya chief minister Conrad Sangma, has suggested reduction in GST rates of Covid relief material to 5% on items inc...
- GoM to look into GST rates of Covid vaccine, drugs and related items set upTax rates on vaccines, drugs, medicines, Covid testing kits, medical grade oxygen, pulse oximeters, hand sanitizers, oxygen concentrators, ...
- GST committee recommends against lowering tax rate on vaccinesThe committee has recommended reduction in medical grade oxygen, oxygen concentrators and pulse oximeters to 5% from 12% till the end of Ju...
- Consumer companies seek GST cut to help push salesThe GST Council, which is expected to meet next month, had slashed tax rates on 200 products including chocolates, toothpastes, shampoos, w...
- Department of Pharmaceuticals sets up facilitation cell to help firms shift to GSTIn order to help and support the pharmaceutical industry in ensuring smooth and successful rollout of GST, a facilitation cell is hereby co...
- Prices of many essential drugs to rise up to 2.29% post-GSTThe government has fixed GST rate of 12 per cent on most of the essential drugs as against the current tax incidence of around 9 per cent.
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