ACCORDING TO TNVAT A HOSPITAL HAVING A PHARMACY INSIDE ITS OWN PREMISES AND SELLING MEDICINES TO THEIR OWN PATIENTS IS LIABLE TO PAY OUTPUT VAT OR NOT? PLEASE ANSWER IN CONNECTION WITH TNVAT RULES ONLY.......
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Tamilnadu vat
Replies (1)
If the turnover exceeds 10 lacs (purchase and sale with Tamil Nadu) or If the turnover excedd 5lakhs (other state purchase and TN sales) all the assessee need to pay. If the pharmacy will fall in this category need to pay.
Also one more option is there, you can filled compunding rate of tax @ .5 % on your sale.
Regards
Sundaresan B
bargo12 @ gmail.com
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