 "Health care service providers want tax sops in Budget")
Healthcare Federation of India (Nathealth), which represents hospitals, medical equipment manufacturers, and insurance companies, has sought tax sops and creation of funds to boost medical innovation and healthcare infrastructure in India.
Anjan Bose, secretary-general of Nathealth, said, “Goods and services tax (GST), once implemented, would put various sectors under the purview of service tax. Patient treatment service is currently exempted from service tax and this should continue under the GST regime for at least 10 years.
Sushobhan Dasgupta, president of Nathealth, said the government should increase depreciation rate applicable on medical and pathological equipment and medical devices from 15 to 30 per cent and extend tax incentives to hospitals with 50 beds. At present, tax incentives is given for capex on hospitals with a minimum 100 beds. “This initiative will extend benefits to smaller facilities and will encourage healthcare facilities in Tier-II and -III cities,” he added.
Anjan Bose, secretary-general of Nathealth, said, “Goods and services tax (GST), once implemented, would put various sectors under the purview of service tax. Patient treatment service is currently exempted from service tax and this should continue under the GST regime for at least 10 years.
In its pre-Budget memorandum, Nathealth also demanded increase in tax holidays for establishment of healthcare facilities in non-metros from five to 10 years and rise in tax exemption limits on preventive health check-up.
Sushobhan Dasgupta, president of Nathealth, said the government should increase depreciation rate applicable on medical and pathological equipment and medical devices from 15 to 30 per cent and extend tax incentives to hospitals with 50 beds. At present, tax incentives is given for capex on hospitals with a minimum 100 beds. “This initiative will extend benefits to smaller facilities and will encourage healthcare facilities in Tier-II and -III cities,” he added.