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GST Impact in PCD Pharma Franchise Products and Industry

GST is a reality from the 1st of July 2017. As they say u201cyou can love it, or you can hate it, but you canu2019t ignore itu201d; GST is the part and partial of Indian economy.<br><br>Read More Info Visit Our Site:- https://irenepcdpharma.in/<br>

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GST Impact in PCD Pharma Franchise Products and Industry

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  1. GST IMPACT IN PCD PHARMA FRANCHISE PRODUCTS AND INDUSTRY

  2. GST is a reality from the 1st of July 2017. As they say “you can love it, or you can hate it, but you can’t ignore it”; GST is the part and partial of Indian economy. The government has been quite severe and sensitive about the implementation of it, and many steps have been taken to make it more balanced and fairer.

  3. According to the Goods and Service Tax, every franchise business is covered under the act. Hence, if you are a business owner of budding pharma franchise India, then it is essential that you gather the required information about GST.

  4. The tax structures and slabs In the past two decades, the pharma sector has performed exceptionally good. Due to the increasing awareness about health and wellness, and growth in the economy; the industry has outperformed. Amongst various business models, the pharma franchise model is easy to launch and profitable.

  5. Since the pharma industry contributes to almost 5 percent of the total GDP in India, it is impossible to ignore it. And more importantly, the substantial chunk of this is added by the small-scale entrepreneurs. In the initial provisions, the tax slabs were Nil, 5,12,18 and 28 percent. However, after consolidation, they are now reduced to Nil, 5 percent and 12 percent.

  6. Impact of GST • There had been some confusion and distress about GST initially because of the complex nature of the business. • For examples, companies purchase active pharmaceutical ingredients with custom tax favor or integrated GST.

  7. Some companies operate in special economic zones. The marketing products, discount schemes or free drug samples have a different impact. They are part of the supply chain. There is a visible impact on MRP or trade value. In some cases, the earlier tax percentage was lesser as compared to the GST applicable now.

  8. Thus, the franchise business has to bear a loss. The loss is higher if the medicine falls under 12 percent category. However, it can’t be generalized. In some cases, the GST has come down than the earlier compounded tax slab. Those who want to start PCD pharma company India need to know the tax slab applicable. It helps to do the business planning better.

  9. For More info Read Our Blogs GST IMPACT IN PCD PHARMA FRANCHISE PRODUCTS AND INDUSTRY TOP 10 PCD PHARMA COMPANIES IN INDIA TIPS FOR CHOOSING THE BEST PCD PHARMA COMPANY IN INDIA HOW TO GET A PROFESSIONAL BUSINESS FRANCHISE OF A PHARMA COMPANY IN INDIA? WHAT IS THE KEY REQUIREMENT FOR A PCD PHARMA FRANCHISE COMPANY IN INDIA?

  10. Contact Us Visit Our Website:- https://irenepcdpharma.in/ Mobile no:- 9429774410 Address:- 151- Shahjanand Estate, Ahmadabad, Gujarat, India, 382210

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