Government likely to reduce GST on Corona vaccine and oxygen concentrator

New Delhi, May 19, 2020, Wednesday

Emphasis is being placed on vaccination in India to curb the third wave of corona. To address the shortage of corona vaccine, the government is now allowing foreign vaccines to be sold in the open market.

The government is now considering lowering the GST on the vaccine to reduce its cost. A meeting of the GST committee has been called on Friday and a news agency report said the meeting could discuss reducing GST on the corona vaccine.

There is currently a five per cent GST on vaccines, which is likely to be reduced to 0.5 per cent. Apart from this, the government is also considering easing the input cost of vaccines. It is also forbidden to reduce GST on oxygen concentrators.

Currently, three vaccines have been approved in India. Including Russia's Sputnik Vino. The other two vaccines are being developed in India. Of these, the Sputnik V is priced at Rs 948. While private hospitals are charging Rs 800 to Rs 900 for all charges for Covishield. Private hospitals are charging Rs 1,500 to Rs 2,000 for co-vaccine.