Centre mulling waiving GST on Covid-19 vaccines?

The Centre may waive the 5 per cent Goods and Services Tax (GST) on Covid-19 vaccines to relieve the financial burden and encourage more people to take the vaccine

Sources in the know told Hindustan Times that while it still needs approval from the GST council, it was "unlikely that any member will oppose the move."

The GST waiver is on the same lines of the import duty waiver for raw materials required to make the vaccine

The implication of this waiver on revenue would be insignificant, the source added.

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The development comes on the heels of Serum Institute of India reducing the price of its Covid-19 vaccine Covaxin to states from Rs 400 to Rs 300. These doses are part of the 50% that the Adar Poonawalla-helmed company are to release to the states. The Centre, on the other hand, is getting the same vaccine for Rs 150 per dose. Bharat Biotech's Covaxin, the pricier of the two vaccines, will cost the states Rs 600 per dose, but will be sold to the Centre for Rs 150.

On Wednesday, India opened registrations for the 3rd phase of its vaccination drive for the population aged 18-44. Over 80 lakh people were said to have registered for a Covid-19 vaccine through the CoWIN portal.