New Delhi, Sept. 4 -- Industry bodies, health experts and patient advocacy groups today welcomed the union Government's decision to reduce Goods and Services Tax (GST) on a range of life-saving drugs and medical products, calling it a "progressive reform" that will help reduce treatment costs and improve access to critical healthcare services.
The GST Council, chaired by union Finance Minister Nirmala Sitharaman, announced the tax cuts after its meeting yesterday. The revised structure, effective from September 22, brings down GST on 33 cancer and rare disease drugs from 12 per cent to zero.
"GST on 33 life-saving drugs and medicines has come down from 12 per cent to zero," Sitharaman said during a media briefing after the meeting. Three ...