The advantages of GST to hospitals will be felt when the supply of equipments and major consumables would be made tax free.
With the passing of GST Act in parliament on 29th March 2017 and coming into effect from 1st of July 2017, the whole episode of indirect taxes got revolutionised. GST Law has replaced many indirect tax laws. The advantages of GST for business and industry are easy compliance, uniformity of tax rate and structures, removal of cascading effect through seamless tax credits throughout the value chain, improved competitiveness and finally with comprehensive set off of input of goods and services and subsuming of major central and state taxes. The advantage for the Governments are better control on leakage and ensuring better tax compliance, higher revenue efficiency and collection and the administration of GST being made simple.
Overall, it appears that GST is well received by all industries. But for the private healthcare sector, the scenario is different. Hospital operations are severely impacted. The concerns are:
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KIMSHEALTH launches electrophysiology lab with 3D mapping
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Molbio boosts Goa's healthcare system with CSR initiatives
The company has donated four state-of-the-art Advanced Life Support (ALS) ambulances and two hearse vans for National Highway emergencies
USV introduces affordable heart failure medication
This cost-effective option addresses the rising cases of heart failure in India, offering lifesaving care to millions of patients who need it the most.
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The company is currently associated with 10 hospitals, providing comprehensive lab management services, including 24/7 in-house phlebotomy and lab testing.
Oncare raises $1 million in seed funding, to set up 10 units
Oncare has raised $1 million in a seed funding round led by Huddle Ventures. It plans to deploy the raised capital to expand its operations to 10 new centers.
Nutrabay forays into Ayurvedic supplements market with Shilajit
Nutrabay's aims at gaining market share from the existing ayurveda supplements market with a distinctive product proposition and education about the benefits of Shilajit.
INDIA'S PREPAREDNESS ON HEALTHCARE-ASSOCIATED INFECTIONS: A GROWING FOCUS ON PATIENT SAFETY
The country's diverse healthcare landscape necessitates a flexible and multifaceted approach to infection control that can be adapted to various settings and resource levels.
TRANSFORMING CARDIAC SURGERY: HOW AI IS REVOLUTIONIZING PATIENT CARE AND OUTCOMES
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BEYOND THE LAB: THE CRITICAL ROLE OF LOGISTICS IN INDIA'S PHARMACEUTICAL INDUSTRY
As India continues to expand its role in the global pharmaceutical market, the importance of a robust, reliable, and innovative logistics infrastructure cannot be overstated.
LIFESTYLE DISEASES IN CHILDREN: A WAKE-UP CALL FOR A HEALTHIER GENERATION
In today's fast-paced world, children face an unexpected enemy: lifestyle diseases. Conditions like obesity, Type 2 diabetes, and hypertension are now affecting our youth. What's causing this shift, and how can we combat it?
