NEW DELHI: The GST Council on Saturday slashed the tax rate on COVID-19 medicines such as Remdesivir and equipment like oxygen concentrators and medical grade oxygen.

While GST on Tocilizumab and Amphotericin B is slashed to nil from 5 per cent, the rate on Remdesivir and anti-coagulants like Heparin is lowered from 12 percent to 5 percent.

Tax on medical grade oxygen, oxygen concentrators, ventilators, BiPAP machines, and high flow nasal cannula (HFNC) devices has been cut to 5 percent from 12 percent, Finance Minister Nirmala Sitharaman said.

Also, tax on Covid testing kits has been brought down to 5 percent from 12 percent.

Pulse oximeters, hand sanitisers, temperature check equipment, and ambulances too will attract lower 5 percent tax, she said.