Govt extends validity of duty exemption for drug firms complying with price ceiling

The department of pharmaceuticals has extended the period of excise duty exemption in respect of the notification on drug price ceiling issued by the National Pharmaceutical Pricing Authority for a period of 30 days from 29 July 2013.

It also expended the validity of duty exemption in respect of NPPA notifications on price ceiling dated 21 and 28 June 2013 and 5 July 2013 for a period of 30 days beyond the 45-day deadline granted by the department of revenue.

The extensions of exemptions will be applicable only for the purpose of exemption from the provisions of Central Excise Act regarding whole of the duty of excise leviable in case of re-printing, re-labelling, re-packing or stickering, in premises, which are not registered under the Central Excise Act, 1944 or the rules made thereunder, an official release said today.

The department of pharmaceuticals also exempted scheduled formulations that are subjected to re-printing, re-labeling, re-packing or stickering, in premises which are not registered under the Central Excise Act, 1944 from whole of the duty of excise leviable thereon under the Central Excise Act subject to the conditions as stipulated therein.