Pharmexcil seeks assistance from Commerce Ministry in resolving export issues post GST
The Dollar Business Bureau In order to resolve the difficulties that the pharma exporters are facing with the implementation of Goods and Services Tax (GST), Pharmaceuticals Export Promotion Council of India (Pharmexcil) has asked for the assistance of the Ministry of Commerce and Industry. It has to be noted here that the Government had withdrawn incentives provided to pharmaceutical exporters under GST. Pharmexcil, in a letter written to Commerce Secretary Rita Teaotia, stated that various categories of pharmaceuticals exporters specifically manufacturer-exporters and merchant exporters have to pay GST at various stages and then they can claim for refund, which results in blocking of working capital. Because due to this, the competitive advantage of exporters would be tapered off. The Council has sought exemption ...
