What will be theTax structure in GST at Pharmaceutical Sector?

Query:
GST picture on pharma company is still clear or We have to wait to know . In my opinion GST will be on MRP but how unbilled sold medicine can be taken care.
Please let me know in detail of gst impact as i am very little knowledge. Awaiting for detail from you

Response:
GST impact at pharma is Clear Now. GST is applicable at Trade value, not at MRP.

Unbilled medicines is not a legal way to do business. Unbilled medicines will be sold out without bill further. Unbilled medicines sale is likely to be strict prohibitions and under control.

There will be four Tax slabs in GST bill: 5, 12, 18, 28 percent. Items will be selected as per it’s a essential commodity or not. Medicines come under essential commodities so it come under 5% slab and in 12% slab.

Hope above information is helpful to you…

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