#PharmaTaxation

[biotichealthcare]

The Goods and Services Tax (GST), a next stage advancement of multi-level taxation system is majorly influencing the pharma industry. The pharma industry is gaining additional benefits from this GST implementation as compared to other industries. Although India based pharma industry stands out as the fourth largest manufacturer worldwide due to its volume and also vies with the countries such as USA, Japan & China, it also faces the same issues as faced by other industries. These issues encompass Central Sales Tax (CST) on raw material, limitations of value-added tax (VAT), and accumulations of VAT credit, etc.