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Government Reduces GST Rates on Select Medical Devices to Support Affordability
GST rates on certain medical devices were reduced to improve affordability and support domestic healthcare manufacturing under the updated tax framework.
The government announced a reduction in GST rates on select medical devices to improve affordability and support domestic healthcare manufacturing. Disclosures indicated that the revised tax slabs apply across specific categories identified by the authorities. The updated rate structure is expected to lower procurement costs for healthcare facilities and strengthen supply chain activity across related manufacturers.