{"id":14822,"date":"2024-09-02T14:54:01","date_gmt":"2024-09-02T09:24:01","guid":{"rendered":"https:\/\/piceapp.com\/blogs\/?p=14822"},"modified":"2024-09-02T14:54:01","modified_gmt":"2024-09-02T09:24:01","slug":"medicine-gst-rate","status":"publish","type":"post","link":"https:\/\/piceapp.com\/blogs\/medicine-gst-rate\/","title":{"rendered":"GST Rates for Medicines"},"content":{"rendered":"\n
The Goods and Services Tax (GST) has revolutionised the taxation system in India, impacting various sectors, including healthcare. The GST rate for medicines i<\/strong>s a critical aspect of this taxation reform.<\/p>\n\n\n\n GST has brought about significant changes in the tax system in India, affecting a wide range of sectors, including healthcare. One crucial aspect of this taxation reform is the GST rate for hospital services, which has had a notable<\/a> impact on the healthcare industry.<\/p>\n\n\n\n In this blog, we will discuss the applicable GST rates on medical services, their effects, the various HSN codes and other associated details.<\/p>\n\n\n\n According to the 47th GST Council Meeting, hospitals and healthcare services are exempted from Goods and Services Tax\u2014for instance, doctors’ services in Assisted Reproductive Technology (ART) or In Vitro Fertilisation.<\/p>\n\n\n\n Two amendments to the exemption are:<\/p>\n\n\n\n The GST rates applicable on medicines range between 0% to 18%. The lowest tax rate is levied on pharmaceutical products like life-saving drugs. However, the highest tax rate is on hygienic articles.<\/p>\n\n\n\n The different rates of GST have been explained in detail below. <\/p>\n\n\n\n Following are the medical goods where 0% or NIL GST rate is applicable:<\/p>\n\n\n\n Here is the list of medical supplies where a 5% GST rate is applicable:<\/p>\n\n\n\nGST on Healthcare Services<\/strong><\/h2>\n\n\n\n
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GST Rates for Medicines<\/strong><\/h2>\n\n\n\n

Zero GST Rate on Medicines and Medical Supplies<\/strong><\/h3>\n\n\n\n
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5% GST Rate on Medicines and Medical Supplies<\/strong><\/h3>\n\n\n\n
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