India tells drugmakers to pass along excise tax cut

India's National Pharmaceutical Pricing Authority has ordered all drugmakers to pass along to the consumer the recent reduction in the excise duty on imported medicines.

The reduction, which took place March 1, was meager, from 6.18% to 6%.

The NPPA regulates prices by establishing a maximum retail price that allows drugmakers to pass along excise duties and all other taxes to the consumer. The reduction was to take place immediately, the agency said.

- here's the NPPA notice
- get the story from Business Standard