Kollipara Sundaraiah (B.com) (3005 Points)
12 November 2021A dealer maintained a pharmacy stores.estimated turnover rs:90 lacs yearly.sales to urd customers transactions only.
Question:
Dealer benefit for composite or regular scheme registered in gst act.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195302 Points)
Replied 12 November 2021
DUE TO MRP, FOR PHARMACY STORE REGULAR SCHEME IS BENEFICIAL.
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 12 November 2021
innocent
(7 Points)
Replied 17 June 2025
For a pharmacy store with ₹90 lakh turnover, the Regular Scheme is more beneficial. It allows claiming input tax credit (ITC), which is crucial for businesses dealing with MRP products. The Composite Scheme would be less beneficial due to its flat-rate tax and no ITC claims.
If selling products like semenax pills, the Regular Scheme ensures proper tax handling and input credits on purchases.
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