non performing assets
ORGANISATION OF PHARMACEUTICAL PRODUCERS OF INDIA
Peninsula Corporate Park, Peninsula Chambers, Ground Floor, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400 013.
Telephone: 91 + 22 + 2491 8123, 2491 2486, 6662 7007 Fax: 91 + 22 + 2491 5168 Email: indiaoppi@vsnl.com
OPPI PRE-BUDGET MEMORANDUM - 2013-2014
INDIRECT TAXES
A. CUSTOMS DUTY
Sr.
No.
1.
Issue
Justification
Customs duty exemption/ reduction to Life Saving It is imperative that critical life saving drugs be made available to the drugs, diagnostic equipments and consumables thereof patients at reduced prices, which will help in bringing down the cost and medical devices. of treatment for these ailments. Further, reduction in import duty on medical devices would overall reduce the cost of treatment of patients and help in making available the best medical facility in India at relatively cheaper rates.
Diagnosis is an important aspect of the healthcare, which helps in detection, prevention and cure of disease. Being a vital segment of healthcare industry, Government should make the diagnostic material tax free or rationalise the tax so as to encourage people for active participation in diagnosing the disease, which will help to prevent the disease or avoid its further aggravation.
Proposed Amendment
All life saving drugs (including medical devices) should be exempted from customs duty on import into India. Diagnostic equipments and consumables thereof specifically required for detecting life threatening diseases should be exempted from the levy of customs / central excise duty.
Similarly other diagnostic equipments and consumables should attract lowest slab of customs/central excise duty to make diagnosis cheap and affordable to one and all in India.
2
Organisation of Pharmaceutical Producers of India
Sr.
No.
Issue
Justification
2.
Presently the Basic Customs Duty (BCD) on formulations is The suggestion is in line with the Chelliah Committee’s long10%
Peninsula Corporate Park, Peninsula Chambers, Ground Floor, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400 013.
Telephone: 91 + 22 + 2491 8123, 2491 2486, 6662 7007 Fax: 91 + 22 + 2491 5168 Email: indiaoppi@vsnl.com
OPPI PRE-BUDGET MEMORANDUM - 2013-2014
INDIRECT TAXES
A. CUSTOMS DUTY
Sr.
No.
1.
Issue
Justification
Customs duty exemption/ reduction to Life Saving It is imperative that critical life saving drugs be made available to the drugs, diagnostic equipments and consumables thereof patients at reduced prices, which will help in bringing down the cost and medical devices. of treatment for these ailments. Further, reduction in import duty on medical devices would overall reduce the cost of treatment of patients and help in making available the best medical facility in India at relatively cheaper rates.
Diagnosis is an important aspect of the healthcare, which helps in detection, prevention and cure of disease. Being a vital segment of healthcare industry, Government should make the diagnostic material tax free or rationalise the tax so as to encourage people for active participation in diagnosing the disease, which will help to prevent the disease or avoid its further aggravation.
Proposed Amendment
All life saving drugs (including medical devices) should be exempted from customs duty on import into India. Diagnostic equipments and consumables thereof specifically required for detecting life threatening diseases should be exempted from the levy of customs / central excise duty.
Similarly other diagnostic equipments and consumables should attract lowest slab of customs/central excise duty to make diagnosis cheap and affordable to one and all in India.
2
Organisation of Pharmaceutical Producers of India
Sr.
No.
Issue
Justification
2.
Presently the Basic Customs Duty (BCD) on formulations is The suggestion is in line with the Chelliah Committee’s long10%