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Sunday, September 19, 2021

Telling Numbers: Lower MRP on Covid-19 drugs, devices after GST reduction

In its 44th meeting on June 12, the GST Council had reduced GST on goods being used in Covid-19 management until September 30.

By: Express News Service | New Delhi |
Updated: July 28, 2021 8:54:58 am
A man purchases a sanitizer bottle in Lucknow. (Express Photo: Vishal Srivastav, File)

In its 44th meeting on June 12, the GST Council had reduced GST on goods being used in Covid-19 management until September 30.

On June 15, the National Pharmaceutical Pricing Authority (NPPA) issued instructions to all manufacturers and marketing companies of drugs/formulations and medical devices to revise the maximum retail price of items on which tax/GST rates have been reduced, Union Minister for Chemicals & Fetilisers Mansukh L Mandaviya said in Lok Sabha on Tuesday.

He was replying to an unstarred question from Congress MP M K Raghavan, who wanted to know whether the NPPA has asked pharma manufactures to reduce the prices of medicines in view of the GST reduction.

Source: Lok Sabha

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