Lockdown: Pharma firms in TN seek 6 months GST holiday

Lockdown: Pharma firms in Tamil Nadu seek 6 months GST holiday

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 Pharmaceutical manufacturers and marketing companies in Tamil Nadu want the Centre to declare a six-month GST holiday starting March, citing the closure of clinics and private practitioners due to the ongoing national coronavirus lockdown.

The Tamil Nadu chapter of Consortium of Indian Pharmaceutical Manufacturers and Marketers Associations (CIPMMA) claimed their business representatives now have no scope to be entertained by doctors in hospitals and clinics or by private practitioners following enforcement of prohibitory orders in the state since March last week.

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It has over 500 registered member companies which are both manufacturers and marketers of their own products and concentrate mostly in the southern districts.

"Notwithstanding the unusual situation being imposed by the government to contain the pandemic, we urge the centre to announce a Goods and Services Tax holiday for six months from March, besides exempting the interest on loans availed from various financial institutions," an office bearer of the association said.

Also, their members are bound to honour government's instruction on not reducing the salaries of their employees and this move would entail them additional fiscal burden, the office-bearer said. The organisation lauded the government's efforts in containing COVID-19 and pledged its support in the endeavour. 

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