Centre can cut GST rates on COVID-19 vaccines, critical supplies, say experts
The Hindu
Finance Minister had said GST exemption to vaccine would be counterproductive without benefiting consumer
An array of measures including reduction in GST rates, zero GST rate on critical raw materials, permitting GST-free imports as well as direct cash incentives to producers, can be used by the Centre to make COVID-19 vaccines and other critical supplies cheaper, tax experts have suggested. At present, Goods and Services Tax is levied at the rate of 5% on vaccines and 12% on COVID-19 drugs and oxygen concentrators for domestic supplies and commercial imports. For oxygen concentrators imported for personal use, the government has reduced GST rate from 28% to 12% and .
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