: GCCI urges Goa CM to withdraw additional COVID cess on GST for pharma industry #FinanceIndia #StockMarketNEWS GCCI urges Goa CM to withdraw additional COVID cess on GST for pharma industry Panaji,

@stockMarketNEWS Thu 17 Jun, 2021

Posted in: #FinanceIndia #StockMarketNEWS

GCCI urges Goa CM to withdraw additional COVID cess on GST for pharma industry #FinanceIndia #StockMarketNEWS
GCCI urges Goa CM to withdraw additional COVID cess on GST for pharma industry Panaji, Jun 17 (KNN) Goa Chamber of Commerce and Industry (GCCI) has written to state Chief Minister Pramod Sawant urging him to withdraw additional COVID cess on Goods and Services Tax (GST) for pharmaceutical industry.

In a letter written to Chief Minister, GCCI President Manoj Caculo said, During the 43rd GST Council Meeting via video conferencing chaired by Union Finance Minister Nirmala Sitharaman, held at New Delhi, one of proposal shared was by Government of Sikkim for nominal cess on pharmaceutical industry. It was also learnt that Goa Government was contemplating on levying similar cess on GST for Pharmaceutical sector.

He said that during the pandemic for the last two years, pharmaceutical was probably the only industry which almost operated at 90 per cent plus utilisation, braving the adverse environment, chugging both lives and livelihood in spite of supply chain logistics issues.

Not stopping at this, the pharmaceutical sector did not hesitate to walk the extra mile by extending whole-hearted support in CSR and supporting the Government on various counts, he added.

Caculo also said that the recent 44th council meeting had in fact reduced the prices of medicines albeit related to COVID-19 adding, On the consumer side additional cess would add to the cost of medication of the public at large who were already reeling under the immense pressure during the pandemic thereby increasing the common mans burden.

We request your good offices and GST council representative members to kindly consider our request for not supporting additional cess proposals, he said.

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