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Most medicines now in 5% slab
Financial Express Lucknow
|September 05, 2025
Faster refunds allay ITC worries
IN A BOOST to the pharma sector, the government has slashed the Goods and Services Tax (GST) rates on all pharmaceutical formulations from 12% to 5%.
Further, exemption is provided for 33 lifesaving drugs where the tax rates have been brought down from 12% to zero in addition to exempting three more critical medicines that are used to treat cancer, rare and chronic diseases from 5% to nil.
The reduction in GST rate has been accompanied with certain reforms wherein the pharma companies will be able to claim 90% provisional refunds arising from the inverted duty structure.
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