News Update

CBIC launches Compliance Information Portal for 12K Customs Tariff ItemsCabinet okays Scheme for Fast Track Courts for further 2 yearsGovt making all efforts to reduce crude oil importsIndia trying for UNSC permanent membership through G-4 and L-69 countries groupingsNo proposal to set up Integrated Check Post at Shikarpur in Nadia district in WB: MoSPHD favours early rejig of GST tax rates structureGulf countries in consultation with Indian embassies restore pre-COVID minimum referral wagesIndia repatriated 60 lakh people under Vande Bharat Mission till April 30, 2021: MEABoxer Lovlina ends up bagging Bronze Medal at OlympicsCOVID-19 - China reports 71 cases - highest since January!Etched in stone - Oldest record of revenue evasionOf Sense & ServersTo frame assessment on best judgment basis, assessee's history is only relevant when conditions in which business activity is being conducted are similar to those of earlier period: ITATCBDT notifies Ontario Inc u/s 10(23FE) for eligible investment in IndiaSteel silos on PPP mode built at 7 locations: GovtDGTR terminates anti-dumping investigation against Self-adhesive Polyvinyl Chloride Film from China but recommends existing anti-dumping duty on Ceramic Tableware & Kitchenware from China and MalaysiaFor allowing of interest on borrowed funds u/s 36(1)(iii) of the Act, what is required is only whether borrowed funds were used by assessee for purpose of business : ITATCOVID-19 global death toll - Close to 10000 in last 24 hours - 1238 in Brazil & 1598 in IndonesiaMany steps taken to ensure smooth supply of Essential Drugs: GovtSC rules Ayurvedic Doctors to retire at 65 like AllopathicOrder passed u/s 201(1) is not sustainable where passed beyond period of 2 years end of FY in which last TDS statement is filed : ITATGovt notifies Delhi CBI Court for dealing with PMLA cases relating to 2G Spectrum ScamExport of Drug Formulations and Biologics registers continuous growthCOVID-19: Global tally of cases goes beyond 20 Crore + US reports 1.5 lakh new cases with over 500 deaths + 43K cases in India with 560 deaths + 22K cases in UK with 138 deathsDeduction u/s 37(1) cannot be allowed in respect of those expenses which are not proven to have been incurred wholly & exclusively for business purposes : ITATGovt not to charge fee on renewal of registration of electric vehiclesCBDT further stretches timelines for e-filing of various Forms including equalisation levy
 
Prices of oxygen concentrators down 54% after govt caps trade margin

By TIOL News Service

NEW DELHI, JUN 12, 2021: AFTER the National Pharmaceutical Pricing Authority (NPPA) capped the trade margin on oxygen concentrators on June 3, there has been a downward revision in price up to 54 per cent in 70 products and brands, the Chemicals Ministry said on Friday.

The government had capped the trade margin at 70 per cent on Price to Distributor (PTD) level to control the volatility in the Maximum Retail Prices (MRP) of the oxygen concentrators.

"A total of 104 manufacturers and importers of oxygen concentrators have submitted revised MRP for 252 products and brands," said the ministry.

Prices of 70 brands have dropped by up to 54%, with MRPs on average coming down by up to Rs. 54,337 per unit. Another 58 brands have reported price reduction up to 25 per cent and 11 brands between 26-50 per cent.

"Trade Margin Rationalisation (TMR) for oxygen concentrators has resulted in ensuring consumer savings by eliminating unreasonable profit margins in imported products," noted the ministry.

There were 18 products reported by the domestic manufacturers which did not show any decline in prices.

The revised MRP effective from June 9 on all the brands and specifications have been shared with the State Drug Controllers for strict monitoring and enforcement.


POST YOUR COMMENTS