New Delhi : It’s around five days, but till today pharma retailers not yet start billing with new GST rates as they still not clear with the price list except the chain outlets like Apollo Pharmacy. First two days after GST regime spent by the pharma companies to migrate the drugs data to the new billing system and in updating the Harmonized System Nomenclature (HSN) codes.
Indian government gave time till 30 September 2017, to the manufactures to clear their unsold stock and gave authority to publish revised prices on the goods. Government understand that all things take time to reflect change in the market, so with taking care of each aspect, time period of three months have been given to the manufacturers.
Government also actively participating to help consumers to get benefits from GST and has constituted a committee to monitor the supply and prices of the medicines.
Government Official also said that we will take care of the difference between MRP and revised MRP; it should not be higher than the extent increase in the tax.
If there is a higher price than the MRP then the manual will have to report in two newspapers and write a revised MRP on the packet.
If there is a higher price than the MRP, it should create awareness among consumers of this change in newspapers by publishing the revised rate on unsold stock.
Govt will not collect GST from the small retailers with less than 20 lakh turnover as government received GST from the Wholesaler for selling the goods.
Hasmukh Adhia, Revenue Secretary said that two lakh two thousand people have applied for registration under GST. Consumers need to just pay attention on the medicines they are purchasing and no retailers can fool them. Government will take possible steps to aware consumers about the changes due to GST regime.