GST for Covid-19 medicines pegged at 5%, says Pankaj Chaudhary

Covid medicines and instruments are being sold at a GST rate of five per cent while other medicines are sold at a GST rate between five and 12 per cent, Pankaj Chaudhary said

Covid-19 medicines and instruments are being sold at a Goods and Services Tax (GST) rate of five per cent while other medicines are sold at a GST rate between five and 12 per cent ever since the pandemic started, union minister of state for finance Pankaj Chaudhary said in the Lok Sabha on Monday.

 “When the Covid-19 pandemic started, a decision was made for sale of all medicines at the GST rate between 5 and 12 per cent and the GST rate for Covid-19 related medicines and instruments has been reduced to five per cent,” he said during the Question Hour.

Chaudhary also said that 66 per cent of government-sponsored health insurance schemes in the country are being run by the Centre.