Gonoshasthaya Pharmaceuticals Ltd, a concern of GK Trust, will not have to pay Value Added Tax on three of its medicines donated to different hospitals for cancer patients.
National Board of Revenue made the decision last week to exempt G-Ajathriopin tablet, G Lumastin capsule and G Temoxifan tablet from VAT.
These three cancer medicines were distributed free of cost among a good number of hospitals and clinics including Bangabandhu Sheikh Mujib Medical University and National Cancer Institute Hospital. “Since cancer is a fatal disease and the cost of continuing medication is very high, the amount of related VAT is not of that much. We, therefore, have decided to exempt the donations from tax,” said a high official of the revenue board.
With the decision, Gonoshasthaya has been exempted from a total of Tk1.32lakh VAT. Of the amount, Tk47,848 VAT has been exempted for distribution of 2,599 packets of G-Ajathriopin tablet, Tk45738 VAT for 284 packets of G Lumastin capsule and Tk9,700 for 253 packets of G Temoxifan tablet.
A Statutory Regulatory Order has already been issued in this regard.
