GST on COVID-related medicines, instruments reduced from 12% to 5 percent, informs Government

Minister of State for Finance Pankaj Chaudhury said the Government had reduced the GST on COVID-related medicines and instruments from 12 percent to 5 percent. On expanding health insurance coverage, Mr Chaudhury added the Government has introduced varied insurance schemes under Ayushmann Bharat. He informed of the overall coverage 66 percent is funded by Central government schemes.

Replying to questions in the Lok Sabha, the minister said GST rates and exemptions on all services are prescribed on the recommendations of GST council.