Explainer: The Impact of GST on Medicine Prices

Now that the goods and services tax (GST) has been in place for over a month, more aspects of it are becoming clear. One of the questions that have come up is what it means for the affordability of medicines. GST replaces a whole host of taxes – and chiefly of relevance to medicines, the old value added tax and excise duty. All invoices – of medicine manufacturers and traders – only refl…