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No misery, 5% service tax on healthcare goes(24-Mar-11)

Finance minister Pranab Mukherjee on Tuesday rolled back the controversial 5% service tax on high-end hospitals and certain diagnostic services. Moving the Finance Bill, 2011, in the Lok Sabha, he said the levy on healthcare had raised anxiety in Parliament and outside. The Bill was later passed by the House. “The purpose of the levy was not merely to mobilise revenue. It was to pave the way for the introduction of the goods and services tax (GST)... However, I have decided to exempt the new levy in its entirety, both in respect of services provided by hospitals as well as by way of diagnostic tests until GST comes into force,” he said.

 






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