Union Finance Minister Nirmala Sitharaman announced a significant reduction in the Goods and Services Tax (GST) on cancer drugs, lowering the rate from 12 per cent to 5 per cent.
The decision, made during the 54th GST Council meeting on September 9, has been praised by Assam and Meghalaya Chief Ministers for its potential to ease the financial burden on cancer patients.
Assam Chief Minister Himanta Biswa Sarma expressed his gratitude on social media, highlighting the positive impact the reduction will have on patients and ongoing cancer care investments. “We are extremely grateful to Hon’ble Finance Minister Nirmala Sitharaman and the entire GST Council for reducing GST on cancer drugs from 12 per cent to 5 per cent . This will greatly benefit patients and support ongoing investments in cancer care,” Sarma posted on X.
Similarly, Meghalaya Chief Minister Conrad K Sangma hailed the move, emphasising the benefits for the common man. “The reduction of GST on cancer drugs to 5 per cent will significantly reduce the cost of treatment and ease the burden on patients. Thank you, FM Nirmala Sitharaman, for this decision,” Sangma stated on X.
In addition to the reduction in cancer drug GST, the council also lowered the tax on namkeen from 18 per cent to 12 per cent. Further discussions on reducing GST rates on health insurance are expected to take place in the council’s next meeting in November.