GST On Medicines: Essential drugs to be sold at non-GST price till August - News Summed Up

GST On Medicines: Essential drugs to be sold at non-GST price till August


Patients can continue to buy essential medicines at the pre-GST MRP, that is, not at the increased prices, till new batches arrive at pharmacies and stockists, and reach retail shelves.This will continue till the market inventory, which could be of around two months, is exhausted. The new stocks with revised MRPs are expected to hit the market from August, industry experts told TOI. Many life-saving drugs are part of the NLEM, which comprises around 25-30% of the pharma retail market (by value).The NPPA has also finalised post-GST ceiling prices of NLEM medicines, based on information received from companies, and prices were uploaded on its website late on June 30. ""We have started replenishing medicines wherever the stock is low or over. "Although hospital services are exempt, the outsourced services, aesthetics and outpatient pharmacies are subject to GST imposition.


Source: Times of India July 01, 2017 23:25 UTC



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