Construction, operation and maintenance of biomedical waste management system can contribute to a significant part of the expenses of a hospital. The study aims to analyse the various costs involved in biomedical waste management at a tertiary care teaching hospital in India. Retrospective study was conducted to analyse data for one-year time period.  In addition to the direct costs, indirect costs like cost incurred for training of staff, procurement of personal protection equipment and administration of vaccination were also considered. Total cost incurred for management of biomedical wastes in the hospital amounted to Rs.7.17 per bed per day. The procurement of plastic bags, sharps containers and waste bins for collection of waste contributed to 56.2% of the total cost. Outsourcing cost for final disposal and salary of staff involved in collection & transport of wastes contributed 22.3% and 15.3% respectively. Training of staff, administration of vaccinations and purchase of personal protection equipment for staff together contributed to 6.2% of the total cost.The data obtained from this study can serve as guidance for hospital planners and administrators in planning and operating biomedical waste management services in hospitals.