MEDICO LEGAL INFO

《MEDICO LEGAL INFO》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。

1、Disclaimer:TheMedicoLegalInformationprovidedhereisobtainedfromvarioussourceswithoutanylegalbindinguponus.Itisofferedasavalueadditionservicewithoutanycost.Youmayverifythesamewithappropriateauthorityaboutthesame.Weshallnotberesponsibleforanyconsequencesorlapsebasedonit.MEDICOLEGALINFORMATION

2、NO.1:Sub:ApplicabilityofValueAddedTaxonMedicine@4%onMaximumRetailPrice.Ref:ClarificatorycircularofS.T.DepartmentinthematterofTaxationofMedicinesundertheMaharashtraValueAddedTaxAct2002(Mah.IXof2005)-Specialprovisionsregardingtaxationofmedicines.AtradecircularNo:VAT-2005/Act/VD-1/1Tof2005iss

3、uedbySalesTaxdepartmentdated1stApril2005hasbeenreceivedbyus,accordingtowhichtheyhaveelaboratedthespecialprovisionsregardingtaxationofmedicines.Thesameareasfollows:1.VATwillbeapplicableonMRPforsaleofMedicinesasperSection2,clause(25),explanation-IVofMVATAct&Rules.2.TaxonMRPforsaleofMedicines

4、atfirstpointonly(Manufacturer/Importer).3.ForWholesalers,Distributors,Stockists,secondselleretc.a)Turnoverofsales&purchaserelatingtomedicinesnottobeshowninperiodicreturns.b)SecondSalesofMedicinesbyWholesalers,Distributors,Stockist,Semi-wholesalersandretailerswouldnotattractthelevyoftax.c)T

5、heWholesalers,Distributors,Stockists,Retailersetc.willnotgetset-offontheirpriorpurchases&stocksof31stMarch2005.d)Forsalesofotherthanmedicines,normalVATrulesapplyi.e.scheduleratesshouldbecharged,shownseparatelyandfileregularreturns.Normalset-offforclosingstockswillbeeligibleforit.4.Thereisa

6、noptionforcompositionschemeforretailchemists.5.Theywillhavetoshowturnoverofmedicinesseparatelyintheirreturnsandpaycompositiontaxondifferencebetweensales&purchaserelatingtootherthanmedicines.MEDICOLEGALINFORMATIONNO.2:Sub:GuidelinesinthematterofdealingwithmedicinesfallingunderNarcoticsandPs

7、ychotropicSubstanceAct.TAKEEXTRACAREWHILEDEALINGWITHMEDICINESCONTAININGNARCOTICDRUGSANDPSYCHOTROPICSUBSTANCES(NDPS):Thepurchaseandsaleofdrugsthataremarkedas“NRx”;NarcoticandPsychotropicDrugs,Morphinebasedanalgesicsandotheranti-depressantsarecoveredunderNarcoti