Pharma Firms in Maharashtra Agree on

June 3, 2005

The Organisation of Pharmaceutical Producers of India (OPPI) and the Indian Drug Manufacturers Association (IDMA) have reached a consensus that the recent amendments in the value added tax (VAT) norms for drugs in Maharashtra state to collect the tax at the manufacturer's level as a single point tax based on MRP. Ranjit Shahani, president, OPPI said that that after a long debate two associations have come to an agreement that VAT as it should be implemented as a "single point tax" based on the maximum retail price (MRP) only at the manufacturer's level. The idea was that it would ensure full realisation of VAT in one step.

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