Paracetamol IP is an ingredient used in many over-the-counter medications. It is a pain reliever and fever reducer used to treat mild to moderate pain, such as headaches, muscle aches, menstrual cramps, and other aches and pains. It is also used to reduce fever and may be used to treat cold and flu symptoms. Paracetamol IP is available as a tablet, capsule, liquid, and suppository.