GST-Pharmaceuticals dealers - information-reg.

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.... price printed on the package of any goods, for which goods are sold to the ultimate consumer. 2. The subsequent registered dealers are exempted from payment of tax if, he has purchased medicine from (a) an importer or manufacturer who had opted for compounding or (b) a registered dealer, who purchased medicines or drugs in which tax has been paid on MRP in the State at the time of purchase or on earlier sale. Moreover, the dealer shall be entitled to recover from the buyers the amount already paid by him at the time of sale of medicine. 3. In case of dealers who deals in medicine and other goods, simultaneously, he can opt for presumptive tax for other goods. The total turnover for the purpose of payment of presumptive tax shall....

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.... non-resident taxable persons making taxable supply. • persons who make taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise. 7. A registered person in Drugs and medicines, whose aggregate turnover in the preceding financial year did not exceed Rs 75 lakh, may opt to pay, in lieu of the tax payable by him, an amount calculated at such rate as may be prescribed. The prescribed composition rates are (a) two per cent (1% CGST + 1% SGST) of the turnover in State or turnover in Union territory in case of a manufacturer and (b) One per cent (0.5% CGST + 0.5% SGST) of the turnover in State or turnover in Union territory in case of other suppliers. However, if the dealer ....

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....oods (Health 30 drinks, Tooth paste, Powder etc.) Total Turnover 80 In the above case, the dealer is not eligible for compounding because the turnover of medicines and drugs is also taken for computing his aggregate turnover, which is 80 lakhs. 11.A registered dealer who has opted for composition scheme shall not collect any tax from the recipient on supplies made by him nor shall he be entitled to any credit of input tax. 12. Public should ensure during their purchase of medicines that, no tax has been collected by the Dealer who have opted for compounding. (Composition Dealer may design a separate invoice highlighting the category as Composition Dealer. Suggested invoice related information is issued separately so as to ensu....