Starting today, 36 lifesaving medicines will be taxed at 0% under GST 2.0. However, a full exemption on all medicines would block manufacturers from claiming input tax credit on raw materials, which would increase production costs and make medicines expensive. Keeping medicines at a 5% concessional rate balances affordability for consumers while maintaining tax credit benefits for manufacturers.
short by
Shristi Acharya /
12:42 pm on
22 Sep