National pharmaceuticals pricing authority asked pharmaceutical industries to reduce prices of anticancer medicines post declining custom duty to zero. The government reduced custom duty on three Anti-cancer medicines namely, Trastuzumab Deruxtecan, Osimertinib and Durvalumab.
Department of Revenue, Ministry of Finance said in Notification 30/2024 dated 23.07.2024 that Custom Duty on three (3) Anti-cancer medicines namely, Trastuzumab Deruxtecan, Osimertinib and Durvalumab was reduced to Nil. Further, Department of Revenue, Gol has reduced GST rates from 12% to 5% on these Anti-cancer drugs vide Notification no. 05/2024 dated 08.10.2024, which has come into force from 10.10.2024.
NPPA notified that as per DPCO, 2013, Maximum Retail Price (MRP) of drugs/formulations is inclusive of taxes and duties, as applicable. Hence, any downward change in Duties and Taxes should be reflected in the MRP and benefit of Nil duty/ Reduction in duties/Taxes should be passed on to consumers.
NPPA said in a notification to 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.
