Mumbai, Sept. 21 -- Ahead of the Goods and Services Tax (GST) reforms that is set to take effect on Monday Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance (IPA), lauded the GST cut in the health sector and called it a "transformative shift" for the industry.

According to a statement by the IPA, the GST reforms announced by Prime Minister Narendra Modi will make healthcare more affordable and accessible for every citizen.

Most medicines, earlier taxed at 12 per cent, will now attract just 5 per cent GST. In addition, 36 critical life-saving drugs for cancer, genetic and rare diseases, and cardiovascular conditions have been fully exempted (zero per cent GST). The GST Council has also rationalised tax slabs on health and...