Reduce GST cap for Ayurveda drugs
This petition had 23 supporters
Honorable Prime Minister and Finance minister,
Recent tax cap under GST will make the Ayurveda, Yunani and Siddha medicines costly and out of reach of the common people.
GST rate for classical or generic range of ayurvedic medicines must be nil and 5 per cent for patented products instead of the proposed 12 per cent.
This will cause burden on the consumer, Manufacturer, Retailer, and doctors as well and it increased cast of medicines may cause downfall of Ayurveda, Yunani and Siddha drug market.
At present the ayurvedic medicines and products have a total tax incidence of 7 per cent, including VAT, depending on the items. Under the GST regime, these items have been kept at 12 per cent.
For developing the Ayurveda and related medical systems, it is essential to produce the effective and economical medicines, which is possible, if Govt. makes tax free for classical preparations and 5 % for Proprietary formulations.
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