we are budding entrepreneurs in the field of pharmaceuticals distribution. we are currently having few orders related to OTC medicines. we want to sub contract our orders to a previously well established firm to do our work. we need information for the legal requirements pertaining to this business module. Please advice. Your advice is much appreciated. Manufacturer------> We---------->Distributor.
Dear Sir,
Since you are not manufacturing you need not apply for an Excise Certification.
But you will have to apply for a VAT TIN Number in your state as well as an Import Excise License if you have plans to export the medicines as well.
Trust this clarifies your query.
Feel free to get back/ call back in case of further details.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB - GEN, CERT. FAFP
Please advise on Full length taxation information and legal requirements for distribution without marketing(Pharmaceuticals).
Dear Sir,
Please find below the various legal comliaces :
1. Registration requiremenet -
a. VAT/Sales tax registration and obtain TIN
b. Obtain PAN and TAN
c. obtain IEC if exporting the goods
2. Routine Compliances
a. Deduct TDS on the payment made to contractors @1% or 2% whatever is applicable and deposit the same
b. File TDS return
c File income tax return
d. File VAT return
There may be certain labour law and other requirements based on the size of the organization
Please feel free to get in touch with me in case you require any additional clarification on the same.
Thanks and Regards,
CA Abhishek Dugar
Dear Sir,
Here under is a basic checklist for every budding entrepreneur:
1. PAN & TAN
2. VAT TIN
3. Service Tax - if you have commission income
4. Import Excise License (IEC Code)
5. Shop Establishment/ Trade License.
There are various numerous trade/ labour compliances like PF/ ESIC/ ELF/ Fire Insurance/ Property Insurance/ ROC Compliances/ etc which may or may not be applicable to you for which you may need to consult a professional on a one to one basis to understand your business and then guide you in the best possible manner.
Sorry but we live in a Country where NO Straight jacket list of taxation & Legal requirement can be provided to a client on a whole.
Trust this clarifies your query.
Feel free to get back/ call back in case of further details.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB - GEN, CERT. FAFP