Chennai
How are manufacturers of nutraceuticals and Ayurvedic products such as soaps and health products treated under GST? Do makers of herbal products gain any special benefits or concessions? Viswakarman N, Porur
Health products like nutraceuticals would attract 18% GST based on the HSN codebased rate schedule (read with customs tariff interpretation rules). There is absolutely no difference between allopathic and Ayurvedic health products as far as the GST rate is concerned.
All medicaments whether Ayurvedic or allopathic would attract 12% by and large, with a few exceptions. Similarly, soaps whether Ayurvedic or otherwise, attract a GST of 18%. The tax rates for these goods under Excise+VAT were higher than the current GST rates. Ideally, the cost of these goods should come down. As there is no CST involved, it would also contribute to the reduction of costs.
D Arvind, Managing Partner, D Arvind & Associates, LLP
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