EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Recent Searches
GST reduction on medicines and medical devices for affordable healthcare
Key changes:
- Reduction of GST from 12% to nil on 33 lifesaving drugs and medicines, and from 5% to nil on 3 lifesaving drugs and medicines used for the treatment of cancer, rare diseases, and other severe chronic conditions
- Reduction of GST on all other drugs and medicines from 12% to 5%
- Reduction of GST from 18% to 5% on various medical apparatus and devices used for medical, surgical, dental or veterinary purposes, or for physical or chemical analysis
- Reduction of GST from 12% to 5% on various medical equipment and supplies, such as wadding, gauze, bandages, diagnostic kits and reagents, blood glucose monitoring systems (glucometers), and other medical devices
- Reduction in GST from 12% to 5% for job work services in relation to goods falling under Chapter 30