The Government of India has completely abolished GST on life-saving medicines for cancer and critical illnesses. Now, patients will not have to pay tax on these medicines and the equipment used in surgeries. This will reduce the cost of treatment and provide relief to economically weaker patients. GST on medical equipment has been reduced to 5%, which will lower the overall expenses.
GST cut on cancer medicines: The Government of India has made a significant change in GST rates, reducing GST to 0% on life-saving medicines for cancer and critical illnesses. Additionally, GST on supportive equipment used in surgeries, such as bandages, thermometers, glucometers, and diagnostic kits, has been reduced to 5%. This move will provide direct financial relief to patients and their families in treatment costs and reduce surgery expenses. According to Dr. Rohit Kapoor, this will lead to a substantial decrease in expenditure on life-saving medicines and medical equipment.
GST abolished on life-saving drugs
The government has zero-rated GST on over 30 critical medicines. Previously, these medicines attracted taxes ranging from 5% to 12%. This includes medicines for combating cancer and other serious diseases. Prominent among these medicines are Asciminib, Daratumumab, Mepolizumab, Pegylated Liposomal Irinotecan, Evolocumab, and Alirocumab.
Following this decision, patients will receive direct financial relief on medicines. Patients and their families will no longer have to worry about interrupting treatment midway. It will also be easier for economically weaker families to continue treatment.
GST reduced on medical equipment
The government has also reduced taxes on equipment like thermometers, blood pressure monitors, glucometers, diagnostic kits, bandages, and testing strips. Previously, GST on these ranged from 12% to 18%, which has now been reduced to 5%.
With this change, frequently used equipment will be available at lower prices than before. Millions of families will directly benefit from this. This will also impact patients undergoing surgery, as the use of these devices is essential during and after the operation.
Benefits for patients undergoing surgery
According to Dr. Rohit Kapoor, an oncologist at Max Hospital, patients undergoing surgery will benefit the most from this. GST will no longer be applicable on life-saving drugs used before or after surgery. This will reduce the patient's total treatment cost.
The reduction in GST on auxiliary surgical equipment such as bandages, surgical gauze, diagnostic kits, glucometers, and thermometers will also lower their prices. The direct beneficiaries of this will be the patients and their families.
Impact on overall treatment
In critical illnesses like cancer, the expenses incurred on medicines and equipment during surgery significantly burden patients' finances. With the GST reduction, this expenditure will now decrease. Medications for infection prevention, chemotherapy drugs, and targeted therapy drugs administered post-operation will also become cheaper.
This change will provide financial relief to patients and reduce the mental and financial burden on families. There will be no need to interrupt treatment midway. This will enable patients to continue their treatment for a longer duration.
