Daily Archives: December 19, 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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