NCP leader Supriya Sule has urged union finance minister Nirmala Sitharaman to waive off Goods and Services Tax (GST) on Medical Equipment which are being used in the coronavirus crisis. Due to the rise in the economic crisis because of coronavirus lockdown, the common man is worried and the waiving of the GST will help to reduce the burden.
Medical Equipment including Masks, Thermometers, Suits, Sanitizers, Caps and Gowns are used during the Corona Virus Crisis are currently taxed @5% to @18% GST. If GST is waived off for the essential equipments and medicines used in the treatment will reduce the prices and the burden of common man.
The nil GST on medicines is currently only applicable to human blood and its derivatives as well as all types of contraceptives. The highest GST rate on medicines i.e. 18% is applicable only to products containing nicotine. The lowest GST rate of 5% (apart from the nil GST rate) is applicable to pharmaceutical products designated as “life-saving drugs” including oral rehydration salts, vaccines as well as medicines such as those used to treat diabetes, tuberculosis, HIV-AIDS, malaria, etc. Right now, no pharmaceutical products are featured in the highest rate of @28% GST rate.