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Will GST mitigate the cascading effects of multiple taxes on healthcare?

GST will lead to reduction in cost of imported advanced medical equipment, says Ameera Shah

Ameera Shah, MD, Metropolis Healthcare Ltd
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Ameera Shah, MD, Metropolis Healthcare Ltd

Ameera Shah
In India, the healthcare sector has grown magnanimously since the last century. Today, the contribution of healthcare to the country’s gross domestic product (GDP) is pegged at 5 per cent. From $ 80 billion in 2012, the healthcare sector is expected to reach $ 150 billion by 2020. Government reforms have played a prominent role in encouraging foreign investments, developing new technologies and defining protocols, to further support this expansion. The Goods and Services Tax (GST) Bill too, was anticipated to aid advancement in the healthcare space. 

In the past few months the GST Bill had been the sum and