Sale in approval bases under circular 10/2017 C.Tax Rate

[Hasmukh Patel]

Dear Sir,

We are supplier-manufacture of INTRAOCULAR LENSES -HSN CODE 9021. We directly supply it to doctors. The doctors are generate library-stocks of various lenses ( power , diameter and company wise). As per requirement of patient, they utilize our lenses. As per new circular 10/2017 C.Tax Rate, we can supply our lenses under approval bases under challans and issue invoice as per consumption of lenses by doctors?
Your reply is very-very helpful for our business.

AI Summary

Intraocular Lens Supplier Queries GST Circular 10/2017 on Sales Approval Basis; Direct Invoicing Suggested by Respondent. A supplier of intraocular lenses inquired about supplying lenses to doctors on an approval basis under GST Circular 10/2017. The supplier wanted to know if they could issue invoices based on the consumption of lenses by doctors. One respondent advised that the case does not qualify for approval basis as doctors do not approve the quantity supplied, suggesting direct invoicing instead. Another respondent stated that sales on approval basis are possible if the contract specifies that stock ownership remains with the supplier, with invoicing upon consumption. The maximum period for such sales under GST is six months.