A Critical Analysis on Impact of GST on the H...

A Critical Analysis on Impact of GST on the Health Care Sector

Author Name : Raghul.M, Mr M. Dhinesh

ABSTRACT

The study discusses the impact of GST on the healthcare sector . The Introductory part deals with the impact of GST on the healthcare sector . This study uses a random sampling method to analyze data. The total sample of the research is 200 collected through online.the Data is collected through the primary and secondary sources . After conducting various analysis techniques the data proves the alternative hypothesis of the paper. . The objectives of the study are well discussed in the effective implementation of GST.   Secondary sources such as articles , books , judgements etc are used . Non doctrinal methods of study are used . The Indian health care trade is currently among the foremost sectors with relevancy revenue and employment. because the expenditure on health care will increase, therefore do revenues from taxes. GST subsumes numerous taxes of the complicated legal system within the country into one uniform legal system.GST would have a constructive impact on the health care trade significantly in the pharmaceutical company sector.There are five tax slab rates under GST; which includes 0%, 5%, 12% 18% and 28%. Around 60% goods are capped under 12% and 28% slab rates to make greater revenues for the state and the centre government. There is a special category to cover rough precious or semi-precious stones and gold which are taxed at 0.25% and 3% respectively under GST regime. GST has three kinds of taxes; which are IGST , SGST , and CGST

KEYWORDS: GST, Healthcare, pharmaceutical, Tax, Trade