Close Look at GST: Pharma sector yet to sync fully with the new regime
The GST regime is expected to bring a great boost to the pharmaceutical industry by making the supply chain management efficient and reducing the cost of manufacturing pharmaceutical products. The reduction in the costs will get added to the profit margins which is a good thing for manufacturers. Pharma sector yet to sync fully with the new regime: There was much con fusion at chemists shops across the city.While many shops failed while issuing bills to customers, very few pharma outlets like Medplus (that has both online and physical stores) outlet were able to issue bills with clear indicators on the GST added. Rekha Chowdhury, who bought her mother s regular medicine at a chemist s shop in south delhi, had pay 12%GST to what medicines cost. “The store issued me a bill with clear indicator on how much was charged for state GST and Central GST. It s 6% each and to tally I paid 12% GST,” said Rekha. While some shops issued bills adding the state and central GSTs, s...