Tax waived for heart valve, cardiac stent

The state budget presented by Finance Minister K.M. Mani in the Assembly on Monday has good news for eye and cardiac patients.

The budget proposes to do away with the tax on intraocular lens, heart valve, and cardiac stent.

In his presentation, Mr.Mani said the tax waiver would ensure affordable treatment for the masses.

The budget proposes a drastic cut in the tax on Ayurvedic products from 12.5 per cent to 5 per cent.

The 12.5 per cent tax on packaged tender coconut water is proposed to be brought down to 5 per cent. Mr.Mani suggested a reduction in the tax on e- toilets to 5 per cent.

The budget proposes to waive the tax on tamarind seed powder used as cattle feed. The 12.5 per cent tax on banana, tapioca, and jackfruit chips, and dried ginger coffee packed in airtight packets is proposed to be reduced to 5 per cent.

Honey, beehives and allied equipment have been exempted from tax. Pharmacies in hospitals will no longer have to register themselves while the medicines sold through them will be free of value added tax if they procure the drugs from wholesale dealers who have already paid tax under the compounding system.