Lockdown: Pharma firms in TN seek six months GST holiday

Chennai, Apr 29 () Pharmaceutical manufacturers andmarketing companies in Tamil Nadu want the Centre to declare asix-month GST holiday starting March, citing the closure ofclinics and private practitioners due to the ongoing nationalcoronavirus lockdown.

The Tamil Nadu chapter of Consortium of IndianPharmaceutical Manufacturers and Marketers Associations(CIPMMA) claimed their business representatives now have noscope to be entertained by doctors in hospitals and clinics orby private practitioners following enforcement of prohibitoryorders in the state since March last week.

It has over 500 registered member companies which areboth manufacturers and marketers of their own products andconcentrate mostly in the southern districts.

"Notwithstanding the unusual situation being imposedby the government to contain the pandemic, we urge the centreto announce a Goods and Services Tax holiday for six monthsfrom March, besides exempting the interest on loans availedfrom various financial institutions," an office bearer ofthe association said.

Also, their members are bound to honour government'sinstruction on not reducing the salaries of their employeesand this move would entail them additional fiscal burden, theoffice-bearer said.

The organisation lauded the government's efforts incontaining COVID-19 and pledged its support in the endeavour. CORR SAVS VS