GoM to cut tax on Covid treatment
The government has constituted a group of ministers to recommend tax cuts or exemptions on vaccines, drugs and medicines for Covid treatment. The eight-member panel, to be headed by Meghalaya chief minister Conrad Sangma, will submit its report by 8 June 2021, the finance ministry said in an office memorandum issued.
- The panel will look into tax rates and need for exemption or reduction on vaccines, drugs, medicines, Covid testing kits, medical-grade oxygen, pulse oximeters, hand sanitisers, oxygen concentrators, generators, ventilators, PPE kits, N-95 masks, surgical masks, temperature checking equipment and any other item required for Covid relief.
- The GoM has been set up after several opposition-ruled states in the GST Council meeting on 28 May 2021 sought complete tax waiver on Covid-related vaccines, medicines and drugs, oxygen cylinders, concentrators, and other material and equipment required for treatment of the disease.
- There was protracted discussion on it, with varying viewpoints. I have decided and announced in the council to have a group of ministers to be quickly formed, which will submit its report on or before 8 June 2021, Union finance Minister Nirmala Sitharaman had said after the council meeting.