Deciphering Section 194R - Addressing implications for the Pharmaceutical sector

The recently introduced Section 194R of the Income Tax Act, 1961 has wide-ranging implications for companies across sectors, and Healthcare and Pharmaceutical sectors are no exception. The section directly impacts the way pharma businesses operate and carry out their marketing and distribution activities. Further, it puts the Uniform Code of Pharmaceuticals Marketing Practices (UCPMP) and the IMC (Professional Conduct, Etiquette and Ethics) Regulations, 2022 for medical practitioners in the spotlight. While the government has provided some clarity on certain aspects arising from this new obligation, several issues are still open for deliberation.

Grant Thornton Bharat is bringing together a panel of experts and industry leaders to delve deeper into the subject and share insights to address the implications of this regulation on the sector. Join the webinar on 24 November 2022 at 3:00 pm for more insights.

Key discussion points

• Impact on business practices and growth strategy (volume discounts, incentivising schemes and physician samples)
• Interplay of the new TDS obligation under section 194R and the GST perspective
• Withholding tax on any benefit or perquisite in the course of business

We look forward to your active participation.