Most pharma companies are likely to begin billing of products under GST rate from Monday or later during the week, industry officials said. Chemist shops continued to sell existing stocks at the maximum retail price (MRP) fixed before the GST rollout as they are yet to get new supply and revised price list from companies. The mom-and-pop chemist shops were largely issuing bills without the GST number, even when many of them had registered themselves on the network. We still have old MRP stocks and there is some confusion how we bill it now that GST has come into effect,” said the owner of a pharmacy shop in Kandivali, Mumbai. “We have made the required changes in the invoices and we mention GST rate separately in the bills.

Source: Mint July 03, 2017 02:26 UTC