New Delhi, July 2: Essential medicines will be available at the pre-GST MRP till new stock arrives at pharmacies, a report claimed on Sunday. As per the information, the availability of the medicines at pre-GST price will continue till the market inventory exhausts. Noteworthy, the essential medicines (those under the National List of Essential Medicines, or NLEM) fall under the 12 per cent tax-slab of the GST, and insulin and critical-care products have been put under 5 per cent slab.Also Read - GST Return Filing Deadline Extended! Here's New Date
According to The Times of India, the new stocks with revised MRPs are expected to hit the market from August. If industry experts are to be believed. insulin, critical-care products for kidney ailments and cancer and anti-retrovirals may be among the first to be rolled out. Also Read - GST Exemption on Vaccines, COVID-19 Drugs Would Make them Costlier: FM Nirmala Sitharaman
Noteworthy, GST implementation will increase the tax liability of companies which will lead to a spike in prices of NLEM drugs. In this regard, the National Pharmaceutical Pricing Authority (NPPA) also finalised post-GST ceiling prices of NLEM medicines and uploaded them on its website late on June 30. Also Read - Zydus Gets DCGI Approval for Emergency Use of 'Virafin' In Treating Moderate COVID-19 Cases
If NPPA is to be believed, prices of approximately 78 per cent of all actively-used and traded drugs in India are going to remain unaffected post-GST. It also added that the patients can report issues with availability of drugs via WhatsApp on 9695736333.
Speaking to TOI, Ameesh Masurekar, director, AIOCD Awacs, informed that in general, there is a market inventory of two months. So the stocks with the new price can only be expected towards August partially. He also said that fresh stock will arrive completely in September.