Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Bulk drugs and active pharmaceutical ingredients qualify as "all drugs and medicines" for the specified IGST rate entry because the inclusive statutory definition of "drug" covers substances used as drug components. Their use in manufacture, testing, clinical trials, bioavailability studies or bioequivalence studies does not change their character as drugs. The description-based entry covers APIs even where classified under chemical chapters, and prevails over general chapter-based entries for organic and inorganic chemicals. Imports of bulk drugs or APIs therefore attract IGST at 5% under the relevant rate entry, unless they fall within the separate nil-rated entry.
Bulk drugs and active pharmaceutical ingredients qualify as "all drugs and medicines" for the specified IGST rate entry because the inclusive statutory definition of "drug" covers substances used as drug components. Their use in manufacture, testing, clinical trials, bioavailability studies or bioequivalence studies does not change their character as drugs. The description-based entry covers APIs even where classified under chemical chapters, and prevails over general chapter-based entries for organic and inorganic chemicals. Imports of bulk drugs or APIs therefore attract IGST at 5% under the relevant rate entry, unless they fall within the separate nil-rated entry.
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