Top Ad unit 728 × 90

Recent

recent

Banking Related General Awareness- -misery tax on Health F.M. scraps the proposal

The health 'misery' tax has been withdrawn. Finance minister Pranab Mukherjee on Tuesday decided to drop his budgetary proposal to levy service tax on diagnostic tests and treatment in air-conditioned hospitals.

The tax on healthcare, dubbed by many as a ''misery tax'', had come in for criticism from hospitals as well as Congress members on the grounds that the government was taxing a basic necessity even when it did not provide medical treatment facilities to all the citizens.

On March 1, a day after the Budget, TOI was the first to report that the unpopular proposal would be dropped. The finance ministry was hoping to net Rs 700 crore from this ill-conceived measure.
Replying to the debate on the Finance Bill on Tuesday, Mukherjee admitted: ''The levy on healthcare has raised considerable anxiety in the House and outside...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 (goods & services tax) comes into force.''


SOURCE: ttp://articles.timesofindia.indiatimes.com/2011-03-23/india-business/29177531_1_import-duty-levy-service-tax-duty-on-raw-silk
Banking Related General Awareness- -misery tax on Health F.M. scraps the proposal Reviewed by sambasivan srinivasan on 11:04:00 PM Rating: 5

No comments:

All Rights Reserved by Bank Exams © 2009
Technology PartnerNiralcube

Contact Form

Name

Email *

Message *

Powered by Blogger.