Budget 2016 Pharmaceutical Changes

India's Finance Minister Mr. Arun Jately today  announced Union Budget 2016-17 lets see what this budget offers Pharma Industry this year .

Here are the some of Books Marks for budget 2016 Impact to Pharmaceutical Sector.

FM says there will be 3000 drug stores to be opened in country under the Pradhan Mantri Jan Aushadhi Yojna...this will definitely going to increase govt. tenders/purchases

Central Excise Duty  ----- No Changes Yet... i.e 12.50%

Service Tax Increased from 14.50 to 15% (Including 0.5% of Crop Welfare Tax)

For Raw/Packing Material of Pharmaceutical Goods, Excise duty there is no changes 

For Finished Products of Pharmaceutical Excise duty there is no changes

Custom Duty  ----- No Changes Yet... i.e 7.50%

Turn over limit to SME's is now 2 Crorers, means now below this No Tax Audit will be required for SME's

GST to be discussed in 2nd Session of budget if comes will defiantly give a big effect on Tax Structure for Pharma Industry as well.

Rs. 1.5 Lac Crore have been allotted to Social Sectors including Healthcare & Education.

Finally we can say No Profit/Loss Budget for pharmaceutical industry, ...

Technorati Tags: Budget 2016 Impact to Pharmaceutical Sector., Excise Duty Change in Budget 2016

Custom Duty Change in Budget 2016

Duty Change in Budget 2016

Technorati Tags: Indian union budget 2016 pharmaceutical changes in budget 2016 excise duty in budget 2016,excise duty pharma budget 2016

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