On July 23, 2024, the Department of Revenue announced that the Custom Duty on three anti-cancer medicines—Trastuzumab Deruxtecan, Osimertinib, and Durvalumab—was reduced to nil. Further, Department of Revenue reduced GST rates from 12% to 5% on these Anti-cancer drugs on 08.10.2024, which has come into force from 10.10.2024. In view of the above, all the manufacturers and marketing companies selling the above-mentioned drugs/formulations are required to revise the MRP of drugs/formulations on which Custom duty has been made Nil and GST has been reduced. Information about the revision is required to be submitted through Form-II/ Form V and the manufacturers shall issue a price list or supplementary price list to the dealers, State Drugs Controllers and the Government indicating changes.
Why have the Maximum Retail Prices (MRPs) for three anti-cancer drugs been reduced?
Advocate- Supreme Court of India
Founder- Mace Corporate Associates
Founder- Mace Corporate Associates