Webinar Series for Pharmaceutical sector
Tax laws have been evolving. The changes in regulations are impacting tax positions in direct and indirect taxes. GST law has recently completed six years, during which the law has seen significant development and clarifications from time to time.
Date & Time
07
-16 Aug 2023 | 3:00 PM - 4:15 PM
Some of the provisions have thrown up sectoral challenges for pharmaceutical industry. Issues range from claiming of refund in case of export transactions including applicability of Rule 96B in case of transfer pricing adjustments, ITC reversal on expired medicines, compliance with Rule 96(10), availability of ITC in relation to medical education expenses, patient awareness programs, transactions with employees.
To address these challenges, Lakshmikumaran & Sridharan is organizing a series of webinars covering various topics relating to pharmaceutical sector. The webinar series will discuss the pain points of the sector and the way forward with investigations. Each webinar will also include a Q&A session as well as address any follow up queries.
The topics to be covered in the webinar series will include:
| Date |
Topic |
| 07.08.23 (Monday) |
Exports and Refunds: Export related issues, viz. refund, Rule 96B compliance due to transfer pricing adjustments, product recalls / time expiry outside India, Rule 96(10) and pre-import condition, bank charges deducted by foreign banks for exports, etc.
Impact on transactions between group companies, subsidiary , branch, and global operations. |
| 09.08.23 (Wednesday) |
Marketing and Supply chain: Interplay of Section 194R and GST, gift to dealers, financial credit notes in the nature of target-based incentives, expired goods / product recalls, patient awareness schemes, etc. |
| 11.08.23 (Friday) |
Procurement, Operations: ITC in case of manufacturing losses, ITC of expenses in reference to Medical Council Guidelines, ISD and cross charge, GST under reverse charge on payments to various Governments and its authorities, etc. R&D activity for group company outside India. Arm’s length pricing of R&D Activities.
Allowability of expenses towards HealthCare Professionals under Income-tax Act |
| 16.08.23 (Wednesday) |
Finance and HR, Investigation & classification: Impact of incorrect classification of goods, employee perquisites, ESOPs, etc.
Investigation Best practices |
Speakers (along with team members):
- Preeti Goyal – Partner, LKS Delhi
- Asish Philip Abraham – Partner, LKS Mumbai
- Karanjot Singh – Associate Partner, LKS Delhi
- Satya Sai – Associate Partner, LKS Hyderabad
- Darshan Machchhar – Associate Director, LKS Mumbai
