The Pharma Industry has been representing for addressing the present inverted tax structure in GST and also for a lower GST rate for Pharma products.
As it has a significant impact on the pricing, working capital, contracts with vendors and customers, ERP systems, processes, internal control and accounting. Thus, giving them an opportunity to review the supply chain and move to a supply chain based on business parameters.
On the other hand, there are certain issues that have been left unaddressed. Making it important than ever, for Tax professionals to start dealing strategically with these issues through a Transitional GST Roadmap in order to minimise the negative impact on Cash flows.
The Challenge facing Tax heads in the Pharma Industry
Agenda for the Day
Best Practices to deal with the Ambiguity in the prices of life-saving drugs and healthcare services
Understanding the various Memorandum of understanding ( MoU ) that need to be re- negotiated like the warehouse strategy , central or state incentives etc:
How to deal with E- Way bill generation & Technical complexities - Best practices for E way bill generation for comprehensive management of e-way bill lifecycle
Action points to deal with the ITC Complexities and reducing the negative impact on the Cash flows - Ensure that Input Tax Credits are duly reported on a regular basis in the relevant returns so as to eliminate loss of credit on transition to GST.
How do you ensure the Return matches when you reconcile statements? Best practices to tally data from different source before Filling - Review arrangements with group companies and the impact on valuation for inter-group transactions.
Diving Deep into the Pain points and working out a strategic Roadmaps :
Akella Prakasa Rao
Head - GENERAL MANAGER - IDT
Chief Financial Officer (CFO), Vice President - IT & Supply Chain
Indoco Remedies Limited
Head - Senior Director Tax
Head - Global Taxation
Dr. Reddy's Laboratories
Sushil K Goyal
Vice Chairman GST and Indirect Tax Committee
Institute of Chartered Accountants of India
Practical - Learning Outcome
Who Will Attend?
Rs. 1,000 + Taxes