Services by medical practitioners and pathologists; Services by allied health practitioners such as physiotherapists, naturopaths, nurses and optometrists; Hospital treatment; Disability services; Medical aids and appliances; Pharmaceuticals; Health insurance.
Value Added Tax was introduced in Indian tax structure way back in 2003 and even today not every state has implemented this tax. Small and medium enterprises (SME) have also not been well settled with VAT law and our government has taken over the task of introducing new statutes for implementation of Goods and Services tax.
GST is been postponed by our Hon’ble Finance Minister, however it is still a constant matter of worry for importers and exporters in Indian continent. Through this article, I try to analyze and present before you a analysis on impact of GST on our imports and exports.
Twofold GST: A dual GST with defined functions and responsibilities of the Centre and the States is recommended. An appropriate mechanism that will be binding on both the Centre and the States should be worked out whereby the harmonious rate structure along with the need for further modification could be upheld, if necessary with a collectively agreed Constitutional Amendment.
1st April 2011 is proposed as new date for its implementation. He recognized several developments in the field of computerization, which are ultimately targeted eventual implementation of GST. He also clearly stated that he is not increasing the service tax rate to 12% in view of convergence with GST in future.
