Reduced GST on medicaments now applies, lowering indirect tax burden on biochemical and veterinary medical inputs. GST at 5% is applied to medicaments, including veterinary medicaments used in bio-chemic systems, by means of a schedule entry linked to the referenced rate notification, making such medicaments subject to the notified integrated tax rate from the specified commencement date.
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Reduced GST on medicaments now applies, lowering indirect tax burden on biochemical and veterinary medical inputs.
GST at 5% is applied to medicaments, including veterinary medicaments used in bio-chemic systems, by means of a schedule entry linked to the referenced rate notification, making such medicaments subject to the notified integrated tax rate from the specified commencement date.
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