Latest GST Judgments

For Full Access To All Latest Judgments on GST
Click Here To Subscribe Now
Take a tour of our GST Library

The Pharmaceutical Reference Standards (Prepared Laboratory Reagents) imported and supplied by the Appellant and classified under Tariff Item 3822 00 90 of the Customs Tariff Act, 1975 is covered under Entry No. 80 of Schedule-II to Notification No. 1/2017-Integrated Tax (Rate), dated 28th June, 2017 Integrated Tax at the rate of 12%.

Classification of goods- In the instant case, applicant is engaged in the distribution of Pharmaceutical Reference Standards from Pharmacopoeias like European Pharmacopoeia (EP), British Pharmacopeia (BP), Indian Pharmacopeia (IP), Japanese Pharmacopoeia (JP). The applicant has sought advance ruling in respect of the following question: Whether the applicable entry for prepared laboratory reagents/ Pharmaceutical Reference Standards in the Notification No. 01/2017-IT (R) is Sr. No. 80 of Schedule II, attracting a levy of 12% or Sr. No. 453 of Schedule III attracting a levy of 18 %? In the instant case, the goods intended to be imported viz. Pharmaceutical Reference Standards('PRS') is a 'prepared laboratory reagent without a backing' with a label and proper instructions for its use. Held that- The Pharmaceutical Reference Standards (Prepared Laboratory Reagents) imported and supplied by the Appellant and classified under Tariff Item 3822 00 90 of the Customs Tariff Act, 1975 is covered under Entry No. 80 of Schedule-II to Notification No. 1/2017-Integrated Tax (Rate), dated Integrated Tax at the rate of 12%..
Join Whats App Group
Check Your Tax Knowledge
Product Demo
Tax Lok English Viedo
Tax Lok Hindi Viedo
whatsapp with taxlok SUBSCRIBE OUR MAGAZINE

FOR FREE CONDUCTED TOUR OF OUR ON-LINE LIBRARIES WITH OUR REPRESENTATIVE-- CLICK HERE