The GST Council has provided major relief in healthcare by exempting or reducing GST on critical medicines, equipment, and health services.
Key GST Reductions in Healthcare
Individual Health & Life Insurance - 18% to Nil
Thermometer - 12% to 5%
Medical Grade Oxygen - 12% to 5%
All Diagnostic Kits & Reagents - 12% to 5%
Glucometer & Test Strips - 12% to 5%
Corrective Spectacles - 12% to 5%
Summary
- Health insurance premiums are now tax-free, reducing overall costs for individuals.
- Critical medical supplies, oxygen, and diagnostic kits are much cheaper.
- This step will make healthcare more affordable and accessible across the country.