Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
Bulk drugs and active pharmaceutical ingredients qualify as "All Drugs and medicines" for concessional IGST treatment where they meet the drug description and are not within the prescribed nil-rate exclusion. The statutory drug definition includes substances intended for use as drug components; importing APIs for testing, clinical research, clinical trials, bioavailability, or bioequivalence studies does not alone change that status. The drugs-and-medicines entry applies across tariff chapters and prevails over general Chapter 28 or 29 chemical entries under the specific-over-general classification principle. Qualifying APIs attract IGST at 5%, subject to examination of the exclusion for each imported product.
Bulk drugs and active pharmaceutical ingredients qualify as "All Drugs and medicines" for concessional IGST treatment where they meet the drug description and are not within the prescribed nil-rate exclusion. The statutory drug definition includes substances intended for use as drug components; importing APIs for testing, clinical research, clinical trials, bioavailability, or bioequivalence studies does not alone change that status. The drugs-and-medicines entry applies across tariff chapters and prevails over general Chapter 28 or 29 chemical entries under the specific-over-general classification principle. Qualifying APIs attract IGST at 5%, subject to examination of the exclusion for each imported product.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
