{"id":332485,"date":"2021-06-12T06:49:18","date_gmt":"2021-06-12T12:19:18","guid":{"rendered":"http:\/\/tehelka.com\/?p=332485"},"modified":"2021-06-12T21:56:16","modified_gmt":"2021-06-13T03:26:16","slug":"gst-rates-cut-for-covid-essentials-5-gst-to-continue-on-vaccines","status":"publish","type":"post","link":"https:\/\/tehelka.com\/gst-rates-cut-for-covid-essentials-5-gst-to-continue-on-vaccines\/","title":{"rendered":"GST rates cut for COVID essentials, 5% GST to continue on vaccines"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-332486\" src=\"http:\/\/tehelka.com\/wp-content\/uploads\/2021\/06\/1615900572-2294.jpg\" alt=\"\" width=\"626\" height=\"464\" srcset=\"https:\/\/tehelka.com\/media\/2021\/06\/1615900572-2294.jpg 626w, https:\/\/tehelka.com\/media\/2021\/06\/1615900572-2294-300x222.jpg 300w, https:\/\/tehelka.com\/media\/2021\/06\/1615900572-2294-80x60.jpg 80w, https:\/\/tehelka.com\/media\/2021\/06\/1615900572-2294-485x360.jpg 485w, https:\/\/tehelka.com\/media\/2021\/06\/1615900572-2294-567x420.jpg 567w\" sizes=\"(max-width: 626px) 100vw, 626px\" \/><\/p>\n<p>The Goods and Services Tax Council reduced rates on Covid-related medicines, oxygen concentrators and testing kits, but kept the rate for vaccines unchanged at 5%.<\/p>\n<p>Finance minister, Nirmala Sitharaman said the council had set up a group of ministers to look into taxation on Covid relief material. The GoM had recommended tax cut on various items.<\/p>\n<p>Among the important tax reductions, tax will not be charged for medicines like the monoclonal antibody Tocilizumab and Amphotericin B, used for treating Black Fungus.<\/p>\n<p>The tax was brought down for pulse oximeters from 12% to 5%, for hand sanitisers, the tax was reduced from 18% to 5% and for Covid-testing kits from 12% to 5%.<\/p>\n<p>Covid vaccines continue to be charged a GST of 5 per cent. There is no change in the GST rate of some items being charged at 18 per cent, such as RT-PCR machines, RNA extraction machines and genome sequencing machines. Also, there is also no tax cut on raw material for Covid testing kits.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Goods and Services Tax Council reduced rates on Covid-related medicines, oxygen concentrators and testing kits, but kept the rate for vaccines unchanged at 5%. Finance minister, Nirmala Sitharaman said the council had set up a group of ministers to look into taxation on Covid relief material. The GoM had recommended tax cut on various [&hellip;]<\/p>\n","protected":false},"author":59,"featured_media":332486,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1961,36,2014],"tags":[14363,394,5218,14362],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/332485"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=332485"}],"version-history":[{"count":2,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/332485\/revisions"}],"predecessor-version":[{"id":332488,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/332485\/revisions\/332488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/332486"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=332485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=332485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=332485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}