18% GST on Hospital Bills? Here’s What’s Wrong🧐
Hello!!
As a single child, I am kinda digging the whole responsible didi hat that I get to wear while writing these newsletters to you guys, haha! Now I genuinely hope you haven’t or don’t get to a stage where you pay a hospital bill, but if I am being realistic, it’s bound to happen, at some point. I want you to be prepared for it. Now tell me:
What I was up to: This week, Sayali & I scripted and shot a whole bunch of content for you guys, and honestly, if there’s an award for getting through a slump, we worked our living will off to deserve it! So the good news is, you can expect to see a lot of our regular content on Instagram, Facebook & LinkedIn moving forward!
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Market ka haal: Despite rising geopolitical heat, the Indian stock market has been staying remarkably unfazed 🔥📈. With the launch of Operation Sindoor on May 7 amid Indo-Pak tensions ⚔️, Sensex added 105.71 points (0.13%) and Nifty 50 rose 34.80 points (0.14%), backed by India’s strong domestic demand and limited trade exposure to Pakistan.
In contrast, Pakistan's stock market felt the heat, with the KSE-100 index plunging 6% on May 7, reflecting investor anxiety over the nation's economic vulnerabilities amid the conflict.
While short-term jitters may linger, India’s solid GDP outlook, reform momentum, and consumption-led growth potential📊 continue to fuel hope into the minds of investors like you and me! India’s stock market is resilient, relevant, and ready, and the message is clear: turbulence is just background noise. 🚀
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Humara Gyaan: I nearly spat out my coffee when I recently saw 18 % GST slapped on an entire hospital bill. How did healthcare, of all things, become a flat‑tax playground?
Long story, short: it shouldn’t be. Let’s untangle the madness so you don’t overpay next time. Here are the tax tariffs for hospital bills:
What Has 0% GST 🏥
Consultations & Treatment: Doctors' fees, nursing care, diagnostic tests, surgeries, and prescribed medicines for in-patients.
Emergency Services: Ambulance services, as well as services under government health schemes like CGHS, ECHS.
Preventive Care: Vaccinations, health check-ups, and wellness programs (from registered providers).
Rent: Hospital room rent below ₹5000/day, rooms in the ICU, CCU, NICU, and ICCU, regardless of the rent.
What Has 5% GST 💸
Hospital Room Rent: Non-ICU rooms with rent exceeding ₹5,000/day attract 5%, with no input tax credit for the hospital.
Medicines & Medical Devices: Certain consumables, a few medications including cancer drugs, vaccines, and orthopedic appliances, come under this rate.
Specialized Services: Bio-medical waste treatment services are provided to clinical establishments.
Other Items and Services with GST Rates 💡
~12% GST: Certain medical devices, Ayurvedic and homeopathic medicines, and medical instruments.
~18% GST: Cosmetic surgeries, health insurance premiums, renting of clinic premises, and fitness services not linked to medical care.
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It’s not rocket science to Google GST tariffs for what you pay, before you pay! Take that tiny extra effort, then, no? The harsh truth that most people ignore to internalise is that saving and investing can only get you so far with wealth creation. What you do with your money on a daya-to-day basis, how you spend money during emergency situations, how smart you are with everyday transactions and at large, how you spend does the heavy-lifting for long-term wealth.
Here’s to staying sharp as a ninja’s sword🍻
Niyati❤️