Delhi Govt Introduces 1% Tax Scheme for Drug Dealers with Turnover Under 1 Crore; Restrictions Apply
The notification issued by the Government of the National Capital Territory of Delhi outlines a tax composition scheme for registered dealers exclusively trading in drugs and medicines with a turnover not exceeding one crore rupees. Dealers opting for this scheme are subject to a 1% tax on their entire turnover and must adhere to several conditions, including restrictions on interstate transactions and tax invoice issuance. Dealers can apply for this scheme upon registration or within a specified period. Non-compliance or exceeding the turnover limit results in a shift to regular tax obligations. The scheme is effective from April 1, 2006.
Full Summary is availble for active users!
Note: It is a system-generated summary and is for quick
reference only.