The Medical
Technology Association of India (MTaI) has urged the government to
reduce GST and customs duties on medical devices, cold chain units and spare
parts used in the healthcare appliances in the upcoming Union Budget.
The organisation
noted that the reduction of GST on medical devices and medical cold chain from
12 per cent to 5 per cent would lead to the expansion of the healthcare sector
through reduced costs improving patient accessibility, MTaI said in a
statement.
The organisation,
which represents research-based medical technology companies, also sought
streamlining of Customs Duty and GST on spare parts.
Currently, the custom
duty and GST on spare parts of medical equipment are currently charged at a
higher rate than the equipment itself, it added.
MTaI has also
suggested amendment in the Health Cess ad valorem imposition by removing the
word 'Ad-valorem' so that the cess is implemented on Basic Customs duty (BCD)
rate only.
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