Impact of GST on Indian Healthcare Scenario
The Healthcare Industry in India has become one of the largest sectors in the country in regards to employment and revenue. As Healthcare expenditure increases, so do the tax revenues for India. As the population continues to grow, the need for better Healthcare Services is also growing. Currently, 5 percent of the country’s GDP is expended on the Healthcare sector. The country’s healthcare industry has been growing exponentially in last few years, and the Health Ministry targets for the development of new technologies to end the year for treating diseases, such as tuberculosis and cancer. Recently, the passing of the most awaited Goods and Services Tax (GST) Bill caught the attention throughout all industries in India. It should benefit most sectors and make taxation easier as it replaces several different duties and taxes. Effects of GST on the Healthcare Industry: The passing of the GST (Goods and Services Tax) Bill has grabbed the attention across all the industries in the cou...