Public policy of GST in India: A study on pharmaceutical sector with special reference to Healthcare

  • Arun Gautam Research Scholar, Department of Commerce, Manipal University Jaipur, India
  • Shivani Kampani Research Scholar, Department of Commerce, Manipal University Jaipur, India
  • Gaurav Lodha Department of Commerce, Manipal University Jaipur, India
  • Vadera M L School of Business & Commerce, Manipal University Jaipur, India

Abstract

India's greatest duty move is now a reality. 1999 was the year when GST was thought of. The amending bill for the full-powered launch of GST was approved by the Rajya Sabha on 8 August 2016, and it was enacted in late August. It is essential to comprehend that GST isn't a duty concession scheme where every good and service has become way cheaper just because the administration has decreased the duty rates. The single Revenue Neutral Rate (RNR) was a difficult system to manage, and thus the Indian govt. I wanted to fix it. Nonetheless, because of practical reasons, "four GST slabs have been set at 5%, 12%, 18%, and 28%. Precious metals have a special rate. The rate of 18% would anyway be relevant for most goods. GST was enacted on 1 July 2017."

Keywords: Revenue, Tax rate, Goods and Services Tax, Indian Economy, GDP, Economics, Finance, GST, Healthcare Sector, Medicines Tax, Health Services Tax

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Published
2019-10-16
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How to Cite
Arun Gautam, Shivani Kampani, Gaurav Lodha, & Vadera M L. (2019). Public policy of GST in India: A study on pharmaceutical sector with special reference to Healthcare. International Journal of Research in Pharmaceutical Sciences, 10(4), 3136-3142. https://doi.org/10.26452/ijrps.v10i4.1611
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Original Articles
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