Breaking News Budget 2011 Related to Service tax on Healthcare and Excise Duty on Readymade Garments

Finance Minister Pranab Mukhejree today announced the withdrawal of service tax on healthcare in the Lok Shabha.

He also declared that the abatement of tax on readymade garments to go up from 40 to 55 per cent.

Healthcare chains happy with service tax rollback

Private healthcare chains and diagnostics labs today welcomed the government’s decision to rollback the 5 per cent service tax imposed on treatments in private hospitals, saying it will help patients.

“It is a good thing that it has been rolled back. For the patients who were required to pay more, it has come out as a good news,” Max Healthcare CEO and Managing Director Pervez Ahmed told PTI.

Expressing similar sentiments, Narayana Hrudayalaya Chairman Devi Shetty said: “I am happy that the Finance Minister has decided to roll back the service tax. I met the FM two weeks ago and at that time he was of the view that the tax would hurt the common man and he would like to do something about it.

Source: PTI

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