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How to grow your Pharma Business?

  Growing a pharma business requires a strategic approach considering the specific context of your company and the pharmaceutical industry as a whole. Here are some general pointers to get you started: Market and Customer: Identify your target customer: Deeply understand the specific needs and challenges of your target audience, whether it's doctors, patients, hospitals, or other healthcare providers. This helps tailor your products, services, and marketing efforts. Focus on unmet needs: Look for gaps in the market where existing solutions are inadequate or unavailable. Addressing unmet needs can give you a competitive edge and drive innovation. Track market trends: Stay updated on regulatory changes, technological advancements, and emerging diseases to adapt your approach and anticipate future opportunities. Products and Services: Invest in R&D: Develop innovative products or differentiate existing ones through unique formulations, delivery methods, or combinations. Remember
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Goods and Service Tax Identification Number

Goods and Service Tax Identification Number, in short form GSTIN, GST number is a commercial license number required to conduct business in India. It is applicable at business having annual turnover above 40 lakhs Indian rupees or businesses involves in inter-state (from one Indian state to another Indian State) supply of goods and service at any annual turnover.
 
Goods and Service Tax is an indirect tax type applicable on supply of goods and services. It is divided into five different tax slabs i.e. 0%, 5%, 12%, 18%, 28%. Most of pharmaceutical products fall under 12% percent tax slab except few life saving drugs which come under 5% tax slab while some medical devices fall under 18% tax slab. Pharmaceutical printing material and pharmaceutical packaging material fall under 18% tax slab.

Check out: How to apply for GST number?
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Ayurvedic Medicine Company

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