World's most expensive drug Zolgensma, costing ₹16 crore, exempted from GST
India / World's most expensive drug Zolgensma, costing ₹16 crore, exempted from GST
India - World's most expensive drug Zolgensma, costing ₹16 crore, exempted from GST
New Delhi: The GST Council has given an exemption on expensive imported drugs such as Zolgensma and Viltepso, which cost crores of rupees, Union Finance Minister Nirmala Sitharaman announced on Friday.“There wouldn't be GST on them - Zolgensma and Viltepso costing around ₹16 Cr will now be exempted from GST," the FM announced.FM Sitharaman also informed about extending concessional tax rates on certain Covid-19 drugs by three months till 31 December from 30 September.The GST Council has also approved the proposal of reducing GST from 12% to 5% to the seven more drugs till 31 December. These are Itolizumab, Posaconazole, Infliximab, Bamlanivimab and Etesevimab, Casirivimab and Imdevimab, 2-Deoxy-D-Glucose and Favipiravir.Briefing reporters on the decisions taken by the Council, the FM extended the period of concessional GST rates on certain Covid-related drugs by three months but decided not to give the same benefit to medical equipment.The concessional regime for certain medical equipment will end on 30 September.