Monthly Archives: December 2017

Drug companies fear double tax on old stocks

Drug companies fear double tax on old stocks

Many drug makers are worried that they may end up paying goods and services tax (GST) on medicines on which they have already paid earlier taxes like excise and sales tax. Under the current law, pharmaceutical companies that have stock lying with them that is older than 12 months are not entitled to a set off against GST liability. This…

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GST’s real gain is efficiency and sustainability

GST’s real gain is efficiency and sustainability

The implementation of the Goods and Services Tax (GST), considered to be the most important policy change in India since economic liberalisation, has the potential to bring about large-scale economic impact. The initial commentary on the GST has revolved around benefits in terms of uniformity of tax structure, removal of cascading effect, efficient tax administration and improvement in government finances.…

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