medicines

Starting Thursday, Delhi shifted to a 5% Value Added Tax (VAT) slab from 4%. The shift to the 5% slab will impact the prices of medicines, surgical and medical equipment, IT and electronic products like computers and software, and industrial inputs, among other things. The five percent slab will cover 170-odd items. Full Article

New Delhi, the 1st September, 2009. Notification No. 32/2009-Service Tax G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, [...] Full Article

CASE LAW DETAILS Decided by:. ITAT, MUMBAI BENCHES `G’ MUMBAI, In The case of: Glenmark Pharmaceuticals Ltd. v ITO (TDS),  Appeal No. : ITA NO. 935/Mum./2007, Decided on: March 5, 2009 SUMMARY OF CASE LAW Simply because the assessee monitors the manufacturing process it does not change the character of the transaction  RELEVENT PARAGRAPH 23. After careful [...] Full Article