Odisha: Pharmaceutical industry welcomes GST Reform

Sambalpur, September 21 (IANS). Odisha’s pharmaceutical industry welcomed GST reform. Ramesh Daruka, head of Daruka Pharmaceuticals and chairman of Sambalpur Chemist and Druggist Association, praised the central government’s decision to improve GST. He described it as beneficial to both consumers and pharmaceutical industry. Ramesh Daruka spoke to Ians, saying that about 80 percent of the medicine was earlier 12 percent GST, but after new changes, most of these medicines have now amounted to under 5 percent tax. With this, patients will directly benefit from reducing the price of medicine from 2.5 percent to 10 percent. He said: “GST reduction will reduce the cost of treatment, which will make the general public accessible. Daruka also made it clear that pharmaceutical enterprises and retailers would not suffer a major damage as a result of this change, as drug prices are already under the government’s price control.” The profit margin is safe, and the full profit of tax reduction reaches consumers and the central government for this expressly express issuance of prime minister Narendra min. Reformation, which calls a ‘public welfare step’. The plate will increase the purchase power of the people, facilitating their purchases. Not only will it increase the confidence of consumers, but also the business and economy will speed up. “By describing this decision as public well -being, he said that along with changes in income tax page, GST reforms offer double relief to the middle class. It will increase the chances of development in areas such as chemists, hotels and restaurants. It is not just financial reform, but a strong step in the direction