Query: I am a veterinarian by profession. Have been going through your website from past 1 year and have planned now to give a start to my own pharma company. Please let me know what will be the first step I need to take. Answer: First Step you need to prepare yourself for Pharmaceutical Company: Preparation means Choose marketing type, Choose molecules want to launch, Location where you want to launch product, Choose Company, Products Name, Budget available... Choose marketing type: As number of marketing and selling types present in pharmaceutical market. i.e. Branded Marketing , Generic Marketing , OTC Marketing, Franchise Marketing etc. You need to select any one from above. Choose Molecule: Once you have selected which marketing type is best suitable for you then you need to select at which segment and molecules you want to work. Check out: How to choose products/service for business? Location: You can't launch your pharmaceutical company all over India or at broad area.
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?
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?
Comments
Post a comment