Yahoo Finance Govt exempts Section 269ST of IT Act for hospitals, other medical facilities providing COVID-19 treatment
New Delhi [India], May 8 (ANI): Granting further relief in view of the pandemic, provisions of Section 269ST of Income-Tax Act, 1961 have been relaxed by the Central government, allowing hospitals and other medical facilities providing Covid treatment to patients to receive cash payments of Rs 2 lakh or more.
The relaxation has been granted for the period 01.04.2021 to 31.05.2021, after obtaining PAN or AADHAAR of patient and the payer.
"The Central Government, in exercise of powers conferred by clause (iii) of Provision to Section 269ST of the Income-tax Act, 1961, hereby specifies hospitals, dispensaries, nursing homes, Covid Care Centres or similar other medical facilities providing Covid treatment to patients for the purpose of Section 269ST of the Income-Tax Act,1961 for payment received in cash during 01.04.2021 to 31.05.2021, on obtaining the PAN or AADHAAR of the patient and the payee and the relationship between the patient and the payee by such hospitals, dispensaries, nursing homes, Covid Care Centres or similar other medical facilities," the government said in a gazette notification.
Earlier, amid the acute shortage of medical oxygen in several parts of the country due to surge in COVID-19, the Finance Ministry had reduced the Integrated Goods and Services Tax (IGST) rate on the import of oxygen concentrators for personal use from 28 per cent to 12 per cent.
The reduced IGST rate will be applicable till June end.
"IGST on import of oxygen concentrators for personal use has been reduced from 28 per cent to 12 per cent to bring IGST rate on such personal imports at par with commercial imports of the same. This reduced IGST rate for imports of concentrator for personal use shall be applicable up to June 30, 2021," said the Ministry of Finance notification. (ANI)
