Cancer treatment to get cheaper due to tax relief

EXEMPTION FROM BASIC customs duty (BCD) for medicines needed for rare diseases, cancer and other severe chronic disorders fulfills a long-pending demand.

- MANU KAUSHIK

EXEMPTION FROM BASIC customs duty (BCD) for medicines needed for rare diseases, cancer and other severe chronic disorders fulfills a long-pending demand. As many as 36 lifesaving drugs get tax relief, and six lifesaving medicines will now attract reduced customs duty of just 5%. The BCD on the raw material (or bulk drugs) required to manufacture these 42 medicines is also exempted.

"This step would reduce overall treatment cost of cancer and other rare diseases and foster domestic manufacturing," said Saloni Roy, partner at Deloitte India.