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Centre To Waive GST On Covid 19 Vaccines

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As there has been a cry over high Covid 19 vaccine prices, the centre in a bid to bring down prices on these vaccines is considering a complete GST waiver on them for state government as well as private hospitals.

 

Centre To Waive GST On Covid 19 Vaccines

The government may waive the 5 percent GST applicable on coronavirus vaccines to lessen the cost by up to Rs. 1200 per dose in private hospitals based on the vaccine.

"The Centre has already waived import duty on most essential pharmaceutical raw materials required to manufacture drugs for the treatment of COVID-19 patients, and is considering scrapping the 5 percent GST on vaccines on similar grounds," sources told the leading business publication.

The waiver will require the approval of the GST Council but it is unlikely that any member will oppose the move, a person said, adding that it will not have "significant revenue implication".

Notably the government shall begin with vaccination for all beginning May 1.Nonetheless, this time the vaccination for those between 18-44 years shall not be free this time.

On April 21, Serum Institute announced that it would price Covishield at a price of Rs. 400 per dose for state governments and Rs. 600 for private hospitals. But following the criticism, the company reduced the price to Rs. 300 per jab. For private hospitals, the price continue to be Rs. 600.

GoodReturns.in

Read more about: coronavirus covid 19 vaccine gst
Story first published: Thursday, April 29, 2021, 13:33 [IST]
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