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Reduced GST on Cancer and Rare Disease Drugs: Tax Dropped to Zero at GST Council Meeting

Finance Minister Nirmala Sitharaman, leading the 56th GST Council meeting, endorsed significant changes to the indirect tax structure on a Wednesday, consolidating the four tax rates into two: 5% and 18%. The adjustments will become effective starting September 22, as part of a comprehensive...

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Reduced Tax on Cancer and Rare Disease Medications: GST Council Lowers Tax Rate to Zero
Reduced Tax on Cancer and Rare Disease Medications: GST Council Lowers Tax Rate to Zero

Reduced GST on Cancer and Rare Disease Drugs: Tax Dropped to Zero at GST Council Meeting

In a significant move aimed at making healthcare more affordable for patients, the GST Council, chaired by Finance Minister Nirmala Sitharaman, has decided to reduce the Goods and Services Tax (GST) on 33 cancer drugs and rare disease medicines to 0%. This decision was announced and made during a meeting held on September 4, 2025.

The reduction in GST taxes on these essential medicines is expected to benefit patients suffering from cancer and rare diseases, as it will reduce the overall cost of treatment. This move is part of the GST Council's ongoing efforts to ease the tax burden on essential goods and services.

The top 10 stocks to potentially benefit from this GST rate cut include Hero MotoCorp, Trent, Maruti, HDFC Life, and others. Investors are advised to consult with their financial advisors before making any investment decisions.

Meanwhile, in other news, the stock market is showing positive signs, with the Nifty signalling a positive opening. The day's stock market prediction, Dow futures, Asian Markets, and Nifty prediction are available for those interested in the latest market trends.

Elsewhere, Anil Ambani faces fresh trouble as a bank has declared RCom loan accounts as fraud. In the technology sector, Google has been fined USD 381 million in France due to a specific reason. The details of this fine and its implications are yet to be fully understood.

In the auto sector, the impact of the GST reforms in 2025 is being decoded by Maruti Suzuki's RC Bhargava. The auto industry is closely watching the developments in this area, as GST reforms can have a significant impact on the sector's growth and profitability.

Lastly, it is worth noting that a bank holiday was observed on 5 September for a specific reason. Lenders were closed during this period, and customers are advised to check with their banks for any changes in operating hours.

As always, stay tuned for the latest updates and developments in the world of business and finance.

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