India cuts taxes on medicines and equipment to treat COVID-19 – Reuters India

India on Saturday cut taxes on medical devices such as oxygen concentrators and drugs utilized to deal with COVID-19 infections, after prevalent criticism over health care costs throughout a terrible 2nd wave of the infection in April and May.The government cut taxes on medical grade oxygen, ventilators, the remdesivir antiviral drug, diagnostic packages, pulse oximeters and hand sanitizers to 5% from 12-18% with immediate effect.The brand-new levies will be in location up until the end of September, Finance Minister Nirmala Sitharaman said, including it would include taxes on electric heating systems in crematoriums and ambulances.”The rate cut has actually not be done with any expense implication (on government finances) in mind, it has been done so that people get some ease … the choice has actually been taken to offer supreme ease to clients,” Revenue Secretary Tarun Bajaj informed a news conference.The federal government, nevertheless, would continue to tax vaccines at 5%, he added.The worlds second-most populous country, where coronavirus cases struck a peak of 400,000 a day in May, reported 84,332 new infections on Saturday, the least expensive in more than two months, data from the health ministry showed.

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