10% hike too little, we want more to offset GST impact, say pharma players

Also want 100% input tax credit against 40% in cases where dealers don't have receipts for stocks

The pharmaceutical industry has sought permission to increase prices of non-scheduled drugs by more than the stipulated 10 per cent in a year, as the tax rate on most drugs was raised to 12 per cent under the proposed GST regime from the current nine per cent.

In a meeting held by the Department of Pharmaceuticals with the drug industry, pharma representatives raised this issue.

As per the Drug Price Control Order (DPCO) 2013, pharmaceutical companies can increase the price of non-scheduled drugs by upto 10 per cent each year.

While 80 per cent of drugs have been put under the 12 per