Medicines will be cheap
On the first day of Navratri, new GST rates will be implemented in the country from 22 September. In view of this, the major FMCG companies of the country have announced a cut in the price of its major products like flour, oil, soap. From HUL to ITC, Proctor and Gamble and Emami, companies have made the prices of their products cheaper. But do you know that after the implementation of the new GST rates, not only the flour-oil will be cheaper but some generic medicines and medical services will also become cheaper.
According to the PTI report, with the implementation of new GST rates from Monday, some life saving medicines and medical equipment will become cheap. Sudarshan Jain, general secretary of the Indian Pharmaceutical Alliance, said that the historic Goods and Services Tax (GST) reforms announced by Prime Minister Narendra Modi are coming into effect from 22 September, which will make health services more economical and accessible for every citizen.
GST rate on medicines
He further informed that most of the drugs used to levy 12 percent GST, but now only five percent GST will be imposed on them. In addition, 36 important life -saving medicines related to cancer, genetic and rare diseases and heart diseases have been completely taxed. Jain said that the GST Council has also rationalized the tax rates on health and life insurance premiums, glucometers and corrective glasses.
Common man will benefit
Sudarshan Jain said that these steps show a big change in India’s health system. This will save patients directly, will reduce the burden of spending on families, access to necessary treatment will be easy and the health security of the country will be strengthened. Jain further said that the Pharmaceutical Alliance (IPA) of India is fully committed to ensure that the benefits of these benefits reach the citizens with speed and transparency. Our aim is to pursue cheap and accessible healthcare for all.
Earlier, Anil Matai, Director General of Organization of Pharmaceutical Producers of India (OPPI), said that the decision to reduce GST on life saving drugs is a historical and sympathetic step. He said that this bold step will reduce the financial burden on patients and their families to a great extent and will make treatment cheap and accessible at every level from hospital to home.