The tax is imposed on goods and services in India at four None, 5%, 12%, and 18% on drugs and medical supplies. In India, the tax is imposed. Blood and its by-products and all contraception products shall be paid for the NIL rate. Life-saving medications such as vaccines and treatments such as tuberculosis, AIDS, diabetes, and malaria, are paying at the lowest 5% GST. Only medical goods, including nicotine gums that contain nicotine polacrilex, have the highest GST levels at 18%. Although GST will be paid at the rate of 28% on many other GST goods and facilities, no medications or medical supplies will be charged. Join PCD Pharma Franchise in Rajasthan now.
CAIT Asks Attention on Online e-Pharmacy
The CAIT has once again sought to understand what damage the internet sale of chemists and pharmaceutical stores is doing. The CAIT requested the Piyush Honorable Trade Minister to find online e-commerce websites which do pharmaceuticals online and offer retailers tough competition. Big discounts are very dangerous for manufacturers expanding by growing others and this must be closely observed on the grounds of chemists' health.
1 . NIL Rate of GST on Medicines and other Medical Supplies
Human blood and medicinal ingredients
All kinds of contraception products
2. 5% Rate of GST on Medicines and other Medical Supplies
GST charges 5 percent for products and medical supplies are:-.
Human/animal blood vaccines
Oral rehydration salts
Diagnostic kits for detecting all types of hepatitis
Formulations manufactured from bulk drugs specified in List 2 of central excise notification 12/2012
Artificial limbs, wheelchairs, crutches, walking frames, etc.
Ayurvedic, Siddha, Unani, Homeopathic or Bio-chemic medicines manufactured following formulations prescribed inappropriate pharmacopeia/ First Schedule of the Drugs and Cosmetics Act, 1940.
Artificial kidneys as well as disposable micro barriers/sterilized dialyzers of artificial kidneys
Medicaments (inclusive of veterinary medicines) used in the biochemical medical system
Deferiprone or Deferoxamine injection
Medicines or drugs as well as their esters and salts as well as diagnostic test kits (specified in List 1 of central excise notification 12/2012)
Coronary stents/stent systems for use with cardiac catheters
Instead of those mentioned in the list, several other medicines and supplies are paid for GST at 5 percent.
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