how do hospitals seek tax relief?

Expert Solution

Doctors are expectong taxation reforms from the budget to increase the affordability of social security, healthcare and insurance. Apart from tax rebates 14% doctors beleive that universal health insurance is the need of the hour and as of now people are not able to afford it.

Even though the healthcare industry is exempted under the new tax regime, the taxes levied in inputs such as diagnostics and medical equipments has made life difficult for hospitals. They are afraid that if the prices on inputs are not reduced then the patients will have to suffer at the end.

Major hospitals have approached the GST council and hace requested them to reduce the tax rates on inputs. In addition to this, they have also urged that input tax credit should be made available to them.

Availability of hospitals is a priority area for the country and private sector participation is desirable in order to provide better healthcare facilities to citizens. Currently, hospitals of more than 100 bed capacity constructed in any area other than the excluded area are eligible for claiming 100% deduction under section 80 IB (11C) of the income tax act.

jeff jeffy answered 2 years ago

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