- Pharma sector likely to get relief from GST
- GST Council may correct inverted duty structure issue
- Union Ministry of Chemicals and Fertilizers expected to approach Union Finance Ministry
- Industry players suggest anomalies in GST on output products
- Ministry may recommend 12% GST on final products and 5% on inputs
- Recommendations to be submitted after formation of new government
- Inverted duty structure in GST means tax rate on input materials is higher than on output
- Example: medical equipment industry in India faces duty inversion
Source: a2ztaxcorp.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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