GST Council Decides To Slash Tax On Cancer Drugs From 12% To 5%

New Delhi, September 09
The GST Council has decided to slash the Goods and Services Tax (GST) on cancer drugs by reducing the rate from 12 per cent to 5 per cent.
The decision was made at the 54th GST Council meeting held in New Delhi today. Union Finance Minister Nirmala Sitharaman chaired the meeting, which was also attended by Minister of State for Finance Pankaj Chaudhary and Finance Ministers of the states.
Briefing the media in New Delhi, Finance Minister Nirmala Sitharaman said that the decision to reduce the GST rate on cancer drugs aims to lower the cost of cancer treatment. She said GST on selected snacks has been reduced from 18 per cent to 12 per cent.