IDMA seeks exemptions for R&D, samples

Tags: News
Indian Drug Manufacturers' Association (IDMA) here today asked the government that 'control samples' and samples given to physicians be exempted from duties and taxes in the Budget.

The drug makers' body in a memorandum sent to the Finance Ministry also requested that all excisable goods used for Research and Development purposes should be exempted from Central Excise Duty, besides allowing exemption for capital goods, raw materials, consumables, and reference standards for R&D purposes.

"Pharma manufacturers are required to keep few boxes of each batch of medicine manufactured till its expiry as 'control samples', as per the provisions of the Drug and Cosmetic Act and Rules. These cannot be sold and hence, should be fully exempted from Central Excise Duty.

Similarly, medicine samples are provided to doctors as 'physician's samples', which should also be kept out of purview of all duties and taxes," IDMA said in the memorandum.

IDMA expects that the weighted deduction of 200 per cent of R&D expenses in an in-house facility will be extended for further period of five years, it said.

The industry body said in the last few Budget presentations, the pharma industry has been 'overlooked'.

"This year we expect the dynamic and forward thinking new government to create a transparent atmosphere of confidence and trust and provide suitable incentives and concessions to keep our growth momentum going." it said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Kejriwal will do well to ignore the bickering and get on with work

    Psychologists explain implosion as a form of behaviour involving intensive recollection and review of anxiety-producing situations or events in an att

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Today's Columns

Simon J Evenett

Are you keeping an eye on BRIC reforms?

When the history of state action during the crisis era ...

Kuruvilla Pandikattu SJ

How do we explain pain and passion?

The holy week that the christians celebrate this week recalls ...

Shona Adhikari

Anjolie Ela Menon, the storyteller, is back

Anjolie Ela Menon, one of India’s most celebrated artists, is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture