New Delhi, Sept. 4 -- Leading pharmaceutical companies and healthcare executives today welcomed the recent decisions of the GST Council, calling the reforms a pivotal moment in India's healthcare journey.
The Council's move to eliminate or reduce Goods and Services Tax (GST) on life-saving medicines, diagnostics, insurance, and healthcare services has been hailed by industry stakeholders as a step that will enhance affordability, foster innovation, and strengthen the domestic life sciences ecosystem.
The decision was announced at the 56th GST Council meeting chaired by Finance Minister Nirmala Sitharaman. It included zero GST on select cancer and rare-disease therapies, reduced rates on essential medicines and diagnostics, and exemptions ...