(1)The maximum retail price of scheduled formulations shall be fixed by the manufacturers on the basis of ceiling price notified by the Government plus local taxes wherever applicable, as under:Maximum Retail Price = Ceiling price + Local Taxes as applicable(2)The maximum retail price of a new drug shall be fixed by the manufacturers on the basis of retail price determined by the Government plus local taxes wherever applicable, as under:Maximum Retail Price = Retail Price + Local Taxes as applicable
