GST on medical devices, including surgical instruments, will be lower than the present tax incidence
Goods used in puja and other Hindu rituals (havan) will be exempt and Ayurvedic and Homeopathic medicines will be cheaper when the new Goods and Services Tax kicks in from July, according to an estimate of the finance ministry. GST Registration is going to start from 1 july 2017
“Puja samagri including havan samagri will be under the nil category. However, exact formulation for the same is yet to be finalised,” the finance ministry said in a statement late on Monday.
The tax burden on medicines, including Ayurvedic, Unani, Siddha, Homeopathic or Biochemic, will be cheaper. These items now attract more than 13% tax, including a 6% central excise duty and a 5% VAT.
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