Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
AAR held that the applicant's products qualify as "medicaments" under the GST Tariff when manufactured exclusively as per formulae in the specified authoritative pharmacopoeias. Medicaments consisting of two or more constituents, mixed for therapeutic or prophylactic use and not put up in measured doses or retail packing, are classifiable under HSN 30039014 and fall under Entry 233 of Schedule I to Notification No. 1/2017-CT (Rate). All other such medicaments, whether mixed or unmixed and put up in measured doses or retail packing, are classifiable under HSN 30049014 under Entry 234. In both classifications, GST rate applicable is 5%.
AAR held that the applicant's products qualify as "medicaments" under the GST Tariff when manufactured exclusively as per formulae in the specified authoritative pharmacopoeias. Medicaments consisting of two or more constituents, mixed for therapeutic or prophylactic use and not put up in measured doses or retail packing, are classifiable under HSN 30039014 and fall under Entry 233 of Schedule I to Notification No. 1/2017-CT (Rate). All other such medicaments, whether mixed or unmixed and put up in measured doses or retail packing, are classifiable under HSN 30049014 under Entry 234. In both classifications, GST rate applicable is 5%.
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