Abatement of Excise on Drugs Raised

Conceding to the industry's demand, the government hiked the abatement limit of excise duty on the retail price of drugs to 40 percent from 35 percent at present. "Taking into account the representations received from the manufacturers and all material facts, the government has decided to increase the abatement from 35 percent to 40 percent. With this change, excise duty on drugs and medicines is leviable at 60 percent of the declared retail price," an official release said.

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