Nullifying GST on gene therapy boon for cancer patients, Thangam hails move

CHENNAI: Finance Minister Thangam Thennarasu, on Saturday, endorsed the proposed Goods and Services Tax (GST) reduction for gene therapy, hailing the move to nullify the tax from the existing 12%.

This would go a long way to alleviate the burden of cancer patients, the minister said.

Presenting the views of the Tamil Nadu government at the 55th GST Council Meeting held at Jaisalmer on Saturday, Thennarasu said that considering the prohibitive cost of drugs for cancer treatment, it is a welcome move to reduce the GST rate on gene therapy, CAR T-cell therapy. This will greatly alleviate the burden on cancer patients, he added.

The minister also supported the proposal to exempt GST on rental commercial property. He also stressed the need for the development and sharing of Management Information System (MIS) reports to all states for effective implementation of the circular to clarify the recording of the correct place of supply of online services to unregistered recipients, to registered persons payable on reverse charge mechanism, a release issued by the State government read.

Principal Secretary to Government, Commercial Taxes and Registration Department, Brajendra Navnit, Commissioner of Commercial Taxes D Jagannathan and other senior officers also participated in the meeting