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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

Article Details

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