Union Finance Minister Nirmala Sitharaman announced a significant reduction in the Goods and Services Tax (GST) on cancer drugs, lowering the rate from 12 per cent to 5 per cent.
The decision, made during the 54th GST Council meeting on September 9, has been praised by Assam Chief Minister for its potential to ease the financial burden on cancer patients.
Further discussions on reducing GST rates on health insurance are expected to take place in the council’s next meeting in November.
Note: Assam records around 50,000 new cancer cases every year of which about 70% are detected late. The rate of cancer is 114 per lakh population, which is higher than the national rate.
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