Tax On Health: Boon Or Bane
The world is getting expensive. From onions to bunyaans everything is becoming pricey every year, especially after March when the budget was proposed. The health sector may or may not be brought under the tax gambit, but if they do so, it will have a detrimental effect on patients as 16 per cent tax would prove to be a bane rather than boon for the patient. GST is a tax on goods and services with comprehensive and continuous chain of set-off benefits from the producer's point and service provider's point upto the retailer's level. GST will have two components: one levied by the Centre (referred to as Central GST), and the other levied by the States (referred to as State GST).
The Central GST and the State GST would be applicable to all transactions of goods and services except the exempted goods and services, goods which are outside the purview of GST and the transactions which are below the prescribed threshold limit. What do you think?