New Delhi, Sep 13
The Association of Indian Medical Device Industry (AiMeD) on Saturday welcomed the timely directions issued by the Department of Pharmaceuticals (DoP), National Pharmaceutical Pricing Authority (NPPA) and the Central Drugs Standard Control Organisation (CDSCO) to ensure smooth implementation of the revised GST rates on drugs, formulations, and medical devices, effective from September 22.
The Office Memorandum issued by DoP-NPPA on Friday clarified that while manufacturers and marketers are required to revise Maximum Retail Prices (MRPs) to reflect reduced GST, recalling or re-labelling of existing stock already released in the market will not be mandatory, provided price compliance is ensured at the retailer level.
CDSCO has further permitted the use of stickering on medical devices (Class C and D) within three months to reflect revised MRPs, thereby easing operational challenges for importers and manufacturers.