GST levied rate on Medicaments used in bio-chemic systems
Any Goods and Service Tax rate for Medicaments used in bio-chemic systems? What is the present Indian GST charges on Medicaments used in bio-chemic systems? GST duty payable on Medicaments used in bio-chemic systems?
The below information details about Medicaments (including veterinary medicaments) used in bio-chemic systems and not bearing a brand name on Medicaments used in bio-chemic systems
The rate of GST on Medicaments (including veterinary medicaments) used in bio-chemic systems and not bearing a brand name fixed by GST council at the introduction of GST in July, 2017 is 5%
GST Council decide 4 main GST Rates Slabs for India. Now GST Rates are finalised i.e GST Rates in India is 5%, 12%, 18% & 28%. Commonly used Goods and Services at 5%, Standard Goods and Services fall under 1st slab at 12%, Standard Goods and Services fall under 2nd Slab at 18% and Special category of Goods and Services including luxury - 28%. The most essential goods and services attract nil rate of GST under Exempted Categories. Luxury goods and services and certain specific goods and services attract additional cess than 28% GST.
This details about GST rate tariff on Medicaments used in bio-chemic systems is only for information. The validity of above information and amendments about GST rate on Medicaments used in bio-chemic systems may be verified before any business dealing.
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