5% GST on medical devices may hurt local device makers: AiMeD
The MedTech association AiMeD on Tuesday cautioned against the possible changes in the GST rates, warning that it could hurt domestic manufacturers. While lowering GST to 5% may boost affordability for equipment, it could worsen the inverted duty structure for consumables, making imports cheaper, said Rajiv Nath, forum coordinator, AiMeD. It recommended keeping most consumables at 12% GST.