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A STUDY ON PUBLIC OPINION ON TAXES ON MEDICAL PRODUCTS

SUBMITTED BY

K.B.PALANIVELRAJAN (131801009) (Author)

 B.A, L.L.B.(Hons), I year

Saveetha School of Law, Saveetha Institute of Medical and Technical Science (SIMATS) ,

Saveetha University.

SUBMITTED TO

Mr. M. DHINESH(CO-Author)

Saveetha School of Law, Saveetha Institute of Medical and Technical Science (SIMATS) ,

Saveetha University,

Associate professor of Law

Abstract:

Goods and Service Tax (GST) is an indirect tax collected in India for the supply of goods and services. The services provided under GST are divided into five different slabs 0%, 5%, 12%, 18% and 28%. In Medical Industry the GST Rate for medicines have been determined by way of the GST Council within the assembly held on the 3rd June, 2017. GST is levied underneath 5 different quotes, namely NIL, 5%, 12%, 18% and 28% primarily based on the HSN code of the object. No medicine has the highest percentage of 28% in the GST. Medicines and prescribed drugs are categorized under 37th chapter of HSN Code. HSN code or Harmonized System Nomenclature code number is a globally embraced product portrayal and coding framework created by the World Customs Organization (WCO). HSN code is utilized by in excess of 200 nations as for their traditions levies. As of now more than 98 % of the products in global countries exchange is grouped under HSN code, With the HSN code going about as universal order for merchandise, the Indian Government has chosen to the utilization of HSN code for characterization of merchandise under GST. This research follows non doctrinal type of research and the sampling method used in this survey is random method of sampling. The sample size is limited to and this analysis is done through SPSS tool for acquiring better and accurate results. This paper is based on primary data sources and a survey conducted by random sampling method.

Keywords: GST, Medical, HSN, Government, merchandise.