Top Health Sector Industrialist Rajiv Nath hails new GST reforms in health sector, expresses delight
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Hindustan Syringes & Medical Device Ltd Rajiv Nath on September 04 hailed GST reforms in Health Sector. “We are very happy with this Govt decision to bring down the GST rate from 12 pc to 5 pc which will provide affordable access to the consumers and to the patients and lower their healthcare cost. More importantly, for manufacturers who were getting extremely worried about inverted GST structure, whereby we are paying 18% GST on our inputs, whereas now we will be charging 5% GST on the output. For this, the Government has assured that we will receive GST refunds within 7 days. If this happens, it will be excellent because we can pass on the full benefit to the consumers. Additionally, we had been requesting the Govt to provide GST refund like it is done by Australia, Canada and Singapore on the GST we pay on our services, and on that GST that we pay on the capital goods that we procure for our capital expansion. If this is also done, it will be great for the medical device sector to make us globally competitive...,” said Rajiv Nath
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