GST has significantly narrowed the manufacturing cost difference between regions that offer tax incentives and states like Gujarat.
“With tax incentives, the manufacturing of pharma products in tax havens Himachal Pradesh, Jammu and Kashmir, Uttaranchal and Uttarakhand — was 35% cheaper than states that did not offer exemptions. The cost benefit, however, has substantially reduced after GST,” said HG Koshia, Food and Drug Control Administration (FDCA), Gujarat.
Source: A2ZTaxCorp
