Govt may partially rollback central excise on some items
After receiving severe criticism from the industry for central excise duty, the Finance Ministry may give it a second thought. The government may partially roll back central excise duty on some items, reports CNBC-TV18 quoting sources.
March 21, 2011 / 23:05 IST
After receiving severe criticism from the industry for central excise duty, the Finance Ministry may give it a second thought. The government may partially roll back central excise duty on some items, reports CNBC-TV18 quoting sources.
It is learnt that the healthcare services including diagnostics, clinics and doctors are set to be exempted from service tax. The 2011 Union Budget had imposed 1% central excise duty on 130 items. The budget proposal to levy a 5% service tax on all services provided by centrally air-conditioned clinical establishments had stirred up a storm. Industry insiders said unless the government supports the sector, healthcare will be unaffordable for 90% of the population.Ever since the government announced a new service tax on healthcare services this union budget, pressure has been growing to announce a roll-back. Noted cardiac surgeon Devi Shetty launched a nation-wide appeal - calling this a misery tax.You should know Devi Shetty's views. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
