FM Announces GST Exemption for Life-Saving Gene Therapy

The Finance Minister announced that life-saving gene therapies would be exempt from GST in the 55th GST Council meeting. This decision is a significant step towards making advanced treatments more accessible and affordable. Gene therapy, often a critical treatment for rare and severe conditions, typically involves high costs. By exempting these therapies from GST, the government aims to reduce the financial burden on patients and encourage the development and adoption of cutting-edge medical treatments. The exemption reflects the government’s commitment to improving healthcare access and supporting the biotechnology sector, particularly in life-saving therapies, making them more affordable for the public.