Key amendments proposed in Union Budget 2024 in respect of pharma and life science sector

23 Jul 2024 PDF
Subject Alerts
Categories Direct Tax
Jurisdictions India

The Hon’ble Finance Minister, presented the Union Budget 2024 on 23 July 2024 in the Lok Sabha.

The key highlights in respect of pharma and life science sector are:

  • A commitment to enhance R&D.
  • Elimination of customs duties on select cancer medications and a reduction of Basic Customs Duty (BCD) on certain lifesaving drugs, medicinal products and medical equipmen
  • Elimination of the angel tax is also anticipated to bolster the pharmaceutical start-up ecosystem

Show resources

  • Download: Union Budget 2024 - Pharma and Life science sector Highlights