Latest News - The pharmaceutical industry has asked the government to bring in more clarity in terms of tax structure and provide incentives on research and development (R&D) as part of its budget wish-list.
The industry players also want the government to provide a road map towards bringing down corporate income tax down to 25 per cent.
The Indian Drug Manufacturers Association (IDMA), a body comprising mostly home-grown pharma firms, said all excisable goods used for R&D purposes should be exempted from central excise duty.
"Introduce parity in the input (12 per cent) and output (6 per cent) rate of excise duty for pharmaceutical products," it said.
