GLB
AUS
Financial Services for Pharmaceutical & Life Sciences Companies in India
India's pharmaceutical sector operates under one of the most complex regulatory and financial environments in the world. Transfer pricing, R&D deductions, multi-state GST, and excise compliance require financial advisors who understand the industry not just the tax code.
Speak with a Pharma Specialist
The specific financial and compliance challenges facing Indian pharmaceutical companies.
Transfer pricing documentation and arm's length compliance
Companies with related-party transactions particularly those with CROs, API suppliers, or international group entities face significant transfer pricing scrutiny from the Income Tax department. Inadequate documentation is the single largest source of pharma tax litigation in India.
Annual TP documentation prepared to Form 3CEB standards
R&D expenditure and Section 35 deductions not fully utilised
Section 35(1)(i), 35(1)(ii), and 35(2AB) provide weighted deductions on scientific research expenditure. Many pharma companies fail to claim these in full due to inadequate documentation of qualifying R&D activities.
Complete R&D deduction planning and DSIR documentation
Multi-state GST compliance across manufacturing, distribution, and retail
Pharma companies operating manufacturing facilities, C&F agents, and wholesale/retail distribution across multiple states face complex IGST, CGST, and SGST management requirements with significant input credit implications.
Multi-state GST management and ITC reconciliation
API import duty, customs compliance, and DGFT obligations
Active pharmaceutical ingredient imports involve customs duty management, advance licences, EPCG obligations, and DGFT compliance that carry significant penalties for non-compliance.
Import duty optimisation and DGFT compliance management
ESOP and executive remuneration at listed and pre-IPO pharma companies
Perquisite taxation on ESOPs, deferred compensation arrangements, and key managerial personnel remuneration involve technical tax compliance that is frequently mismanaged.
ESOP tax planning and perquisite compliance management
Clinical trial and contract manufacturing accounting complexity
Revenue recognition for milestone-based contracts, cost allocation for multi-party clinical trials, and accounting for regulatory approval costs require sector-specific financial expertise.
Specialist revenue recognition and cost allocation advisory
Tailored financial services for every stage of pharmaceutical operations.
Transfer Pricing Advisory
Annual TP documentation, benchmarking studies, Form 3CEB certification, and representation support before Transfer Pricing Officers.
R&D Tax Planning
Identification and documentation of qualifying R&D expenditure. DSIR-approved in-house facility documentation and weighted deduction optimisation.
Multi-State GST Management
GST registration management, inter-state ITC optimisation, e-way bill compliance, and reconciliation of GSTR-2A/2B for complex multi-location operations.
Manufacturing Cost Accounting
Product-wise cost allocation, batch costing for API and formulations, and standard costing systems that support both regulatory and tax requirements.
Illustrative Engagement
Scenario
Mid-size API manufacturer with international group entity and three-state distribution network
A pharmaceutical company with annual turnover of ₹85 Crores engaged Navon Global following a transfer pricing notice from the Income Tax Department. The company had been managing its own TP documentation and multi-state GST without specialist support.
Our engagement covered transfer pricing documentation and TP Officer representation, multi-state GST rationalisation, R&D expenditure review, and an end-to-end bookkeeping transition to a cloud platform — providing the real-time financial visibility required for management decision-making.
• Transfer pricing notice resolved without additional demand
• ₹2.3 Crores in unclaimed R&D deductions identified for current year
• Multi-state GST ITC reconciliation completed — ₹68 Lakhs in blocked credit released
• Full bookkeeping and reporting function transitioned within 4 weeks
Quantified Outcomes
₹2.3Cr R&D deductions identified and claimed for the current financial year
₹68L Blocked GST input tax credit released through reconciliation
100% Transfer pricing notice resolved without additional tax demand
4 wks Complete bookkeeping transition and first month-end delivery
Frequently Asked Questions (FAQs)
We provide a full suite of services, including bookkeeping, payroll, insurance broking, business accounting, R&D tax claims, tax structuring, SMSF planning, admin support, and wealth management, tailored for the construction and trade sectors.
Our bookkeeping is designed especially for construction and tradies. We track every job, manage supplier payments, and ensure compliance. You get clear, up-to-date accounts, helping you easily manage cash flow and plan ahead for your business.
Absolutely. We handle payroll calculations, superannuation, award interpretation, BAS, and ATO compliance. This ensures your team gets paid properly and you avoid unnecessary penalties, while saving you a lot of time and effort.
We focus on the construction industry, use cloud technology for convenience, and offer friendly, ongoing support. Our integrated services mean one expert team handles your accounts, tax planning, insurance, and financial wellbeing.
“Clarity, compliance, and confidence—every business deserves expert financial support that drives real growth."
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Have a question, need help with bookkeeping, or want to talk strategy? Let’s start the conversation.