How to Start a medical store?
The medical store is a long-run business in India that is not influenced by the industrial circles. Further, the growing demand for corporate hospitals and multispeciality hospitals in India has produced large growth for the healthcare and medical store in India. To start a medical store business, a drug license is needed. The State Drugs Standard Control Organization control and Central Drugs Standard Control Organization circulate of drug license for a medical store in India. As the introduction of the new tax so all the medicals need to get GST Registration. Medical store necessity to obtain GST and its registration if the aggregate turnover in a fiscal year passes the set limit. The limit defined by the GST Council that is Rs. 20 lakhs for all states except the North-Easter Hilly states their limit is Rs.10 lakh.
All medical store has a large responsibility a there is no room for mistakes on their part in case of consumers/patient of medicines. The drug license is issued to medical stores for the purpose. They usually obligated to obey various legal procedures before they start trading medicines. Determining upon the variety of medical store
Before progressing for registration, a person needs to determine the variety of medical store person needs to have. The choices accessible are:
- Stocks and stores in Government offices.
- Township medical stores: It is established in a town to provide according to the demands of the people.
- Standalone medical store: It is the usually recommended form of a medical store that is located in a residential area.
- Franchise outlets/Chain Pharmacy: Medical stores located in the malls are part of a series of stores.
- Hospital medical store: It is located inside the hospital. It is commenced to provide the demands of the patients.
Kind of drug license for medical store
Prior to the start proceedings for all medical store. Be it small or big needs to issue a drug license from the CDSCO and SDSCO Organization. These organizations are liable for circulating 2 primary drug license:
Wholesale Drug License: The license is assigned for medical stores for trading in the wholesale business for drugs and medicines. There are not many harsh requirements that one has to face in order to get this license.
Retail Drug License: This license is needed to operate a common chemist shop. A charge has to be submitted. The registration can be done simply in the name of a person who holds a degree or diploma in pharmacy from a known university or institute.
Registration procedure of drug license for medical store
The registration of medical stores in India is governed by the Indian pharmacy Act, 1948. The acts comprise of the fact that all the medical stores have to get registered with the state government with all the mandatory documentation. The submission of the document will decide the matter of issuing the license or not. There is a Department for Drug control in India which helps the companies to ease the registration process.
- Tax registration- The GST registration process is a mandatory procedure to carry out a medical store business as trading of medicines or drugs are allowed on the basis of goods and service tax.
- Company registration– Registration for medical stores is a very important process as this will further help them to get a drug license. Its all depend on the person who is opening a medical store that which mode of the company he/she wants to operate. The following options one can cater for starting a medical store business.
- Limited Liability Partnership
- Private Limited Company Registration
- Proprietorship Firm Registration
- Partnership Firm Registration
- OPC Registration (One Person Company Registration)
- Shop and Establishment Registration/ Gumasta Registration (Only in Maharashtra) – As per the corporate rules of the particular public corporation, you require to get your shop and establishment registration done in order to operate a medical store business without trouble from the officials. Also, this singular document is needed as a helping document from several different registrations and licenses.
Read more about: Heart Surgery in Diabetics – Impact and Management
Documents required for drug licence
|Serial No.||Documents Required|
|1.||Photo ID proof of proprietor, partner or director.|
|2.||Constitution of the firm (Memorandum of association /articles of association).|
|3.||Copy of Property paper (If owned property)|
|4.||Affidavit regarding the compliance of MPD 2021 (if premises are located on DDA residential flat/ plot/ building)|
|5.||Copy of Rent agreement (If rented property)|
|6.||An affidavit from the registered pharmacist /competent person|
|7.||Site Plan and key plan of the premises|
|8.||Address proof (rent agreement/sale deed)|
E-Payment method of drug license for medical store
The candidate can make the payment of a charge for the demanded license by the NCT Delhi the e-payment portal for drug license.
- Step 1
To make the demanded payment amount, one can log into the e-payment website of the Delhi government.
- Step 2
Choose the department as Drugs Control and choose the essential license kind for which the fee is to be made.
- Step 3
List the needed payee detailed information. The sum to be paid for every kind of license is displayed.
- Step 4
Tap on the submit button and continue with the payment process.
Are you looking for drug license?. Your stop is here. One must have a licence to startup any medical store as that will ease their trade in medicines. For more details related to with the Drug Licence, Company Registration, Franchise partner Registration, LLP Registration, Partnership Registration, OPC Registration and GST Registration for medical store, you can visit our website LegalRaasta. Our experts will help you to guide for new company registration. Feel free to Give a call at 8750008585 and you can to send your queries on Email: [email protected].Now you can download our app click on this link- https://play.google.com/store/apps/details?id=com.legalraasta.www.legalraasta_gst