TN Chemists to return current stock of medicines with revised costs

Stockists are expected to return all old MRP stock to companies with GST compliant documents as per GST provisions in Saleable Goods return and get the new stock of medicines
Representative Image
Representative Image

CHENNAI: The All India Organization of Druggists and Chemists has directed the drug retailers and stockists in Tamil Nadu to return the current stock to suppliers and manufacturers immediately after the ceiling prices of certain drugs has been implemented.

The organisation has directed to implement the pricing as per the ceiling prices fixed for formulations with immediate effect.

Therefore, all members are required to take precautions while selling such medicines so as to avoid over charge even by oversight. It is required to return all those medicines to suppliers or pharmaceutical companies immediately.

The retailers have been instructed to return the stock to distributors only, from whom retailers have purchased stock.

Stockists are expected to return all old MRP stock to companies with GST compliant documents as per GST provisions in Saleable Goods return and get the new stock of medicines.

After several requests from Druggists and Chemists, the cost of 10 formulations and 107 scheduled formulations have been cut down considering the manufacturing cost and consumption.

Upon return, the companies shall issue credit notes against these goods return and adjust immediately and supply fresh stock with MRP based on notified ceiling prices.

The Druggists and Chemists had urged the National Pharmaceutical Pricing Authority to regulate the pricing of the essential drugs for wholesale as there is a high profit margin on the production and manufacturing cost of the drugs.

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