CANCER drug prices to rise as Govt lifts duty exemption
As many as 74 drugs,including life saving ones used for treating cancer and HIV,will see a sharp rise in prices as the government has withdrawn customs duty exemption on their imports.
CBEC last week issued a notification withdrawing exemption of levy of basic customs duty on as many as 74 drugs
The medicines on which customs duty will now be imposed include the ones used for treating bacterial infections[1],leukemia[2],anesthetic medication[3],human immunodeficiency virus(HIV)[4] or hepatitis B virus cells[5],allergies[6],arthritis[7],lupus[8] and ulceration colitis[9] might also see spurt in prices.
"The withdrawal of exemption from basic customs duty for certain drugs and medicines including life-saving drugs is intended to provide protection to the domestic manufacturing industry and enhance the attractiveness of make in India initiative." KPMG India Partner and Head of Indirect Tax Sachin Menon said.
"An increase has also been made in the customs duty rates of certain life saving drugs such as abciximab,anti-rabies immunoglobin[9],FSH[10],procarbazine[11] and saquinavir[12 to 35%",
Dolite in India Senior Director M S Mani Said.These changes signify the intention of the govt to promote domestic manufacture of these items as imports would now become more expensive.Mani said. Menon said the move seems to be in line with the government's objective to rationalize duty exemptions..
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Questions by the Blogger to - Mr.Mani & Mr.Nair:-
Please let us know as you have come forward to recommend the local drug manufacturer's if all the drugs [1] to [11] are made in India and if so the name of these drug manufacturers and the cost and quality effectiveness to the respective drugs "Made IN INDIA to the imported drugs and if the local drugs have been tested by Expert Medical Professionals in High Tech Hospitals.
THIS IS A LIFE & DEATH QUESTION PLEASE.
OR
May be what Mr.Sachin Menon Head of Indirect Taxes has said is more important to his dept than Cancer Patients.
Dolite in India Senior Director M S Mani Said.These changes signify the intention of the govt to promote domestic manufacture of these items as imports would now become more expensive.Mani said. Menon said the move seems to be in line with the government's objective to rationalize duty exemptions..
______________________________________________________________________________
Questions by the Blogger to - Mr.Mani & Mr.Nair:-
Please let us know as you have come forward to recommend the local drug manufacturer's if all the drugs [1] to [11] are made in India and if so the name of these drug manufacturers and the cost and quality effectiveness to the respective drugs "Made IN INDIA to the imported drugs and if the local drugs have been tested by Expert Medical Professionals in High Tech Hospitals.
THIS IS A LIFE & DEATH QUESTION PLEASE.
May be what Mr.Sachin Menon Head of Indirect Taxes has said is more important to his dept than Cancer Patients.
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