The GST Council has taken a significant step towards making cancer treatment more affordable in India. In a recent announcement, Finance Minister Nirmala Sitharaman revealed that the tax rate on cancer drugs has been reduced from 12% to 5%. This decision, which was made following a council meeting, will provide much-needed relief for patients seeking essential cancer medications.
The reduction in GST aligns with the government’s commitment to making cancer treatment more accessible, as highlighted in the 2024 Budget. In addition to the GST cut, three specific cancer medicines-Trastuzumab Deruxtecan, Osimertinib, and Durvalumab-were also exempted from customs duty. This move aims to alleviate the financial burden on patients and their families, making life-saving treatments more affordable.
The GST Council’s decision reflects the recommendations of a Parliamentary panel, which had previously called for the complete removal of GST on cancer medications. The panel emphasized the high costs associated with cancer treatment in India and suggested that cancer be recognized as a notifiable disease to raise awareness and improve reporting on cancer-related issues.
The government’s actions demonstrate a clear commitment to improving healthcare for cancer patients. The lower GST rates and customs duty exemptions are crucial steps towards making life-saving drugs more accessible and affordable, ultimately enhancing the quality of care for those battling cancer.
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