Last year, we conducted a detailed 4-part webinar series on issues impacting the Pharmaceutical Sector, covering range of issues from GST, Income Tax, FEMA and allied laws, encompassing Exports and Refunds, Procurement, Operations, Finance, HR, Investigations and Classification.
During the past year, there have been further developments on various issues, including clarifications from GST Council on issues like refund of additional IGST on debit note for export of goods, valuation of services between related persons, corporate guarantee, introduction of new UCPMP guidelines, clarification for post-sale discounts, etc. Further, the Government has actively introduced Section 128A to address litigation for initial years under Section 73, and has provided for changes in ISD provisions to be implemented from 1 April 2025.
We are happy to conduct this webinar encompassing many such issues relevant to the sector.
The webinar will inter alia cover the following:
- Deduction under Income Tax Section 37 & ITC availability on sales promotion expenses in view of latest UCPMP Guidelines
- Implications under Income Tax Section 194R for various promotional spends
- Exports and refunds – Rule 96B, Rule 89(4) and Rule 89(4B) of GST & TP implications
- Refund of additional IGST on exports – applicability of interest?
- Impact of changes in ISD
- GST & Transfer pricing implications on corporate guarantee, usage of brand name & logo between associated enterprises in view of recent circulars & amendments in GST law
- R&D and Testing Services from abroad – GST & WHT implications considering MFN benefit
- Assignment of IPRs – GST & Capital gains implications
- Important changes in Finance (No. 2) Act, 2024 including Section 128A, Section 74A under GST
Speakers:
- Preeti Goyal - Partner
- Satya Sai - Partner
- Darshan Machchhar - Associate Director
- Venkat Ramanan - Associate Partner