The Goods and Services Tax (GST) will benefit the healthcare sector and promote local manufacturing, industry body CII (Confederation of Indian Industries,a leading Associtions of Indurstralist in India ) said today. The GST, India's biggest tax reform since Independence, is scheduled to be rolled out from July 1. "This is a breakthrough tax reform and one of the biggest major milestones for the country and its industries.
We are confident that the GST would boost the local manufacturing sector", CII Medical Technology Division Chairman told PTI. The entire healthcare industry will profit from the GST implementation as it would diminish the complexities and various obstacles in the business growth, he added.At these rates, the present total tax incidence works out to more than 29 percent. If we include tax incidence on account of CST, octroi, entry tax, etc., the present total tax…
