Quick Summary
The All India Organisation of Chemists Druggists (AIOCD), which represents over 12.5 lakh chemists and distributors nationwide, has appealed to the government for immediate relief measures to support small retailers struggling with the ongoing shift to GST 2.0. In a memorandum to Finance Minister Nirmala Sitharaman, AIOCD President J S Shinde and General Secretary flagged the growing distress among small traders after the recent reduction in GST rates on medicines. Under the new slabs, taxes w
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FAQ :
GST 2.0 refers to the recent transition and changes in the Goods and Services Tax rates, specifically concerning medicines in this context.
Small chemists are struggling because the reduction in GST rates on medicines has left them with losses on unsold inventory purchased at higher tax rates. Many also cannot claim Input Tax Credit.
AIOCD is seeking permission to sell old stock at pre-revision MRPs for three months, a special relief package for affected retailers, and a moratorium on penal actions during the adjustment period.
The All India Organisation of Chemists & Druggists (AIOCD), representing over 12.5 lakh chemists and distributors nationwide, is making the appeal.
Without timely support, many small chemists, especially in rural and semi-urban areas, may be forced to close down, which could impact the last-mile availability of essential medicines.
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