Hello GST: Health insurance and diagnostics might get tax laden

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In an interview with CNBC-TV18’s Menaka Doshi, Jigar Doshi of SKP Consulting said research and development cess will continue to remain as a cost since it is not subdued under GST.

It is still not clear how the goods and services tax (GST) bill will pan out for certain sectors and healthcare is certainly one which is clouded with uncertainties.

Under GST, the inverted duty structure will either be removed or be made available as a refund and the duty charged on imported healthcare equipment will be available as credit, which comes across as positives.

However, the healthcare sector currently enjoys several exemptions and it is still unclear whether these exemptions will stay or not after GST is passed.

In an interview with CNBC-TV18’s Menaka Doshi, Jigar Doshi of SKP Consulting said research and development cess will continue to remain as a cost since it is not subdued under GST.

Whereas, health insurance and diagnostic services might see a higher tax burden under the bill, he added.

Source:http://www.moneycontrol.com/news/economy/hello-gst-health-insurancediagnostics-might-get-tax-laden_5125481.html

 

One Reply to “Hello GST: Health insurance and diagnostics might get tax laden”

  1. Ashish says:

    Very Bad

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