By adbnu564 
The pharmaceutical sector is hopeful that upcoming Goods and Services Tax (GST) reforms will resolve long-standing issues, including the inverted duty structure, which has affected cost efficiency and medicine affordability, said Dr. Satish Reddy, Chairman of Dr. Reddy’s Laboratories.
“For an extended period, the pharmaceutical sector has faced structural challenges, including higher GST rates and an inverted duty structure, which have impacted domestic manufacturing costs and the affordability of medicines. We are optimistic that the forthcoming reforms will address these critical concerns,” Dr. Reddy stated on Tuesday.
The industry anticipates that the reforms will improve competitiveness for domestic manufacturers, reduce operational complexities, and enhance access to affordable medicines for consumers. Stakeholders are closely monitoring government announcements, hoping for measures that balance tax compliance with the sector’s unique manufacturing dynamics.