Akshay Verma, Co-founder of FITPASS mentioned “We’re grateful that our letters and representations have discovered resonance with the Authorities. For a sector not even formally designated as an trade, being heard at this degree is historic — and we welcome the decisive transfer by the Hon’ble Prime Minister, the Finance Minister and the GST Council to rationalise GST on health and bodily well-being to five%. This underscores the easy reality that the Govt recognises health as an important companies, a pillar of preventive well being, not a luxurious.
This decrease fee will make memberships, yoga and training extra reasonably priced and accessible, particularly for girls and youth in Tier-2/3 India. With 8,000+ associate gyms in 130+ cities and 6 million members, FITPASS will cross this profit via and take guided exercise to thousands and thousands.
To serve the nation and in our submissions, we sought a framework that places prevention on a par with healthcare — both a 5% fee with enter credit score retained or full exemption for structured health. The Council’s transfer to five% (with out ITC) is a powerful interim consequence – however it’s not a whole answer for giant scale impression for our nation’s younger demographic dividend.
Through the years, we’ve labored constantly with authorities and residents to place prevention on the centre of coverage — from the 2018 discount of GST from 28% to 18% to IRDAI’s 2020 inclusion of health companies in insurance coverage merchandise. We’re grateful that this sustained advocacy has discovered resonance in immediately’s choice.
We’ve come a good distance. There’s extra to do.
From right here, we are going to work with the Authorities to evolve nationwide coverage and create health entry at scale — aligning intent with motion.
A considerate reclassification that locations structured health — gyms, yoga, teaching, vitamin counselling — inside Heading 9993 (Human Well being & Social Care Providers), alongside AYUSH, naturopathy and rehabilitation, would give health parity with preventive healthcare and preserve affordability sturdy throughout Bharat — turning immediately’s milestone into its pure development: parity below 9993 for more healthy residents, stronger productiveness, and regular momentum in direction of Viksit Bharat 2047.”
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