Sambalpur, 21 September (IANS). Odisha’s pharmaceutical industry has 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 for both consumers and pharmaceutical industry.
Speaking to IANS, Ramesh Daruka said that earlier about 80 percent of medicines used to be 12 percent GST, but after new amendments, most of these drugs have now come under 5 percent tax. With this, patients will get direct benefit of reduction in the price of medicines 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 clarified that pharmaceutical companies and retailers would not suffer any major damage due to this change, as the prices of drugs are already under the price control of the government. “Profit margin is safe, and the full profit of tax reduction reaches consumers,” he said.
Daruka expressed gratitude to Prime Minister Narendra Modi and the Central Government for this reform, calling it a ‘public welfare step’. He said that this step would play an important role in strengthening public health services and providing long -term benefits.
Shila Siba Prasad, president of the District Chemical Drug Dealers Association and Joint Secretary of Odisha Hotel and Restaurant Association also welcomed GST reforms. Describing it as a bold and historical step, he said that it has brought great relief for the middle class. Prasad said, “Changes in GST slab will increase the purchasing power of the people, which will ease their purchasing. This will not only increase the confidence of consumers, but will also speed up business and economy.”
Describing this decision as public welfare, he said that along with changes in income tax slab, GST reforms have provided dual relief to the middle class. This will increase the chances of development in areas such as chemists, hotels, and restaurants. Prasad said, “Every section of the society benefits from such steps. This is not only financial reform, but a strong step towards the progress of the country.”
-IANS
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