No tax on black fungus medicines, 5% GST on vaccines; rates on Covid material, ambulances slashed

The GST council has cleared the recommendation on tax slab on vaccines and other Covid-related material. The relief will be provided till September this year. Check out GST rates on vaccines, oximeter and ambulance services here.

The GST council on Saturday cleared the recommendation on tax slab on vaccines and other Covid-related material. Now, a 5 per cent GST will be applied on vaccines, while 12 per cent to 5 per cent GST will be charged on oximeter. Also, the GST rates on ambulances have been reduced from 28 per cent to 12 per cent. Finance Minister Nirmala Sitharaman said, "The GST on electric furnaces and temperature checking equipment was brought down to 5 per cent and on ambulances to 12 per cent. These rates will be valid till September as against August end recommended by the GoM." Moreover, the tax on black fungus medicine has been brought down to zero.