https://www.taxtmi.com/article/detailed?id=6561 The State cannot lawfully levy VAT on free supplies of medicines by calculating tax on maximum retail price or any notional future-sale value; a compounding scheme permitting payment based on such hypothetical prices is ultra vires and cannot be used to impose tax on promotional or free transactions. en-us Sat, 05 Dec 2015 10:28:01 +0530 Sat, 05 Dec 2015 10:28:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6561 The State cannot lawfully levy VAT on free supplies of medicines by calculating tax on maximum retail price or any notional future-sale value; a compounding scheme permitting payment based on such hypothetical prices is ultra vires and cannot be used to impose tax on promotional or free transactions. Articles Value Added Tax - VAT and CST Sat, 05 Dec 2015 10:28:01 +0530 https://www.taxtmi.com/article/detailed?id=6561