Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

FM withdraws proposal for service tax on healthcare

Posted on 22 March 2011,    
 3582 Views   Share Report

FM withdraws proposal for service tax on healthcare


Bowing to demand from all quarters, Finance Minister Pranab Mukherjee today announced withdrawal of the proposed 5 per cent service tax on airconditioned hospitals with more than 25 beds and on diagonistic services.

He also provided some relief to readymade garment manufacturers by raising the abatement available for levy of taxes on retail price of some branded garments and textile made-ups.

"The purpose of the new levy (healthcare) was not merely to mobilise revenue, but to pave the way for introduction of the GST.

"However, I have decided to exempt the new levy in its entirety both in respect of services provided by hospitals as well as by way of diagnostic tests until GST comes into force", Mukherjee said while moving the Finance Bill in the Lok Sabha for consideration and passage.


Popular News

Follow Follow Book Book Book Business Course caclubindia books

Browse by Category