In a written reply to the Rajya Sabha, Minister of
State for Chemicals & Fertilisers Mansukh L Mandaviya said that the
government has analysed the impact of GST on prices of the formulations.
GST would not have an impact on the prices of non-scheduled
formulations which account for nearly 80 percent of the pharma sector,
the Rajya Sabha was informed today.
In a written reply to the
Rajya Sabha, Minister of State for Chemicals & Fertilisers Mansukh L
Mandaviya said that the government has analysed the impact of GST on
prices of the formulations.
"It is noticed that there will be
almost no impact on the prices of non-scheduled formulations which
account for nearly 80 percent of the total pharmaceuticals sector,"
Mandaviya said. In respect of scheduled formulations, there is no impact
on the prices of about 4 percent formulations, which mainly include
medications related to immunisation program, anti- cancer, oral
rehydration salts, contraceptives among others, he added.
"In most of
the remaining formulations, which account for nearly 16 percent of
total pharmaceutical sector, there is an increase in the prices to the
extent of nearly 2.3 percent," Mandaviya said. The government has
already fixed the ceiling prices of 851 formulations/ (packs) included
in revised Schedule-I of the Drugs (Prices Control) Order, 2013 (DPCO,
2013).
23 Dec 2017, 10:07 AM