Withdrawal of Duty Cuts – Consequences

Abbreviated New Drug Application (ANDA) www.ambitionias.com
  • Last month’s notification laid down categories in which current Customs duty exemptions were to continue. Sixty-one bulk drugs and 15 formulations were removed from the list. This included imported and locally manufactured drugs.
  • All 76 drugs will now be subject to normal rates of basic duty at 7.5% .This would mean MNCs that hold patents for certain life-saving drugs would be at a disadvantage. Local companies will suffer a smaller increase.