Nifty99000 100%

Sensex99000 100%

Article rating: 4.2
Article rating: 5.0
Article rating: 4.3
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 4.0
Article rating: 4.0
Article rating: No rating
Article rating: 3.0


Health Ministry seeks lower GST on medical services

Author: IANS/Friday, December 8, 2017/Categories: TRACKING THE GST

Health Ministry seeks lower GST on medical services

New Delhi, Dec 7 - The Union Health Ministry has written to the Finance Ministry seeking reduction in GST rates for medical products and services either to 5%  or zero, informed sources said on December 7.

The letter was sent a couple of weeks ago after diagnostic centres and hospitals threatened to increase charges of services.

Before the implementation of the Goods and Services Tax, the levy on maintenance of contract was 15%, which was increased to 18%.

Similarly, for health insurance, the tax bracket was increased from 15 per cent to 18 per cent post-GST.

For a hospital bed, it was increased from 11-16.5% to 18% and for oxygen from 12.5-15% to 18%. Pacemaker and heart valves are now under the 12% bracket, up from 5%.

Sources said the Health Ministry also received a representation from the Association of Healthcare Providers.

"The healthcare providers have basically said that they are under distress as all the services which had 5% of tax have been increased to 12 and above under the GST," said the source.

"They said that while they are not letting consumers get affected because of the taxation hike under GST, but if it is not lowered than they will increase it."

Print Rate this article:
No rating

Number of views (154)/Comments (0)

Kavita Giridhar Mallya


Other posts by IANS
Contact author

Leave a comment

Add comment



Ask the Finapolis.

I'm not a robot
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest



The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free