Save upto 7% in taxes
Claim 100% ITC and save ~4% GST
3x faster experience
Save 2 man days every GSTIN month
Easy to connect
Connect with 100s of ERP's, import data error-free
BROWSE BY TOPICS
- Income Tax e-Filing
- Last Date To File ITR For 2022-23
- Income Tax Slabs FY 2023-24
- Which Is Better: Old vs New Tax Regime For Salaried Employees?
- House Property
- Business, Professional & Freelance
- Which ITR Should I File?
- Income Tax Refunds
- Paying Tax Due
- Salary Income
- Capital Gains Income
- Other income sources
- Advance Tax
- NRI
- HUF
- Income Tax Notices
Medicines Will Get Costlier After GST Rollout
Updated on: Jul 13th, 2021
|
2 min read
Updates from 23rd May, 2017
The GST rate announced for the pharmaceutical industry is contrary to what the industry had been expecting. Though the sector had been wishing for zero tax, the GST Council has capped the rate of life-saving drugs at 5% and other formulations at 12%. So effectively, the rate of medicines post-July will be higher than what they are now. The list of essential medicines includes those that treat malaria, HIV-AIDS, tuberculosis, and diabetes. Everything else falls under the 12% bracket.
As reported in Economic Times
Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.
Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.
CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.
Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.
Cleartax is a product by Defmacro Software Pvt. Ltd.
Company PolicyTerms of use
ISO 27001
Data Center
SSL Certified Site
128-bit encryption