Will Prices Drop Even if Medicine Packs Show Old MRP From September 22 On GST Cut?
From September 22, medicines will reflect a reduced Goods and Services Tax (GST) rate, but confusion may arise as many packs in circulation will continue showing the older, higher Maximum Retail Price (MRP). The government recently cut GST on certain life-saving drugs and cancer medications, aiming to make treatments more affordable for patients. However, since manufacturers and retailers already printed MRPs before the tax revision, consumers may still see outdated prices on packaging. Retailers are instructed to pass on the benefit of the tax cut at the billing stage, even if the pack shows an old price. Authorities have also directed companies to quickly update labels on new batches. This change is expected to bring partial relief to patients who have long faced high treatment costs. Experts stress that awareness among consumers will be key to ensuring they receive the reduced price benefits promised under the revised GST system.
The Key points
- GST cut on select medicines effective September 22.
- Old MRPs may still appear on existing packs.
- Retailers must provide reduced prices at checkout.
- Applies mainly to life-saving and cancer drugs.
- Government aims to ease patient cost burden.
- Manufacturers to update labels on new stocks.
- Consumers advised to demand tax-cut benefits.
- National authorities monitoring implementation closely.
- Retailers accountable for passing tax savings.
- Price relief depends on awareness and enforcement.
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