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Firms Told to Pass on GST Cuts on Covid Medicines, Relief Materials

The drug pricing regulator has directed all manufacturers and marketing companies of drugs, for drugs, for mutations and medical devices to reduce prices of products on which goods and services tax has been lowered to ensure the benefit reaches and consumers.

Manufacturers can ensure price compliance on stock already in market at retailer level through revised price list, the National Pharmaceutical Pricing Authority (NPPA) said in a memorandum on Wednesday.

The Central Board of India Taxes and Customs (CBIC) had on Tuesday notified reduction of GST on 18 covid-related medicines and relief material till September 30, after the GST council approved the reductions.  S-ET

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