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Input tax credit rules shape GST treatment of pharmaceutical supplies, with transaction value assessment and mandated ITC reversals. Assessment of drugs and formulations under GST is on the basis of transaction value with an end to end Input Tax Credit chain. Free physician samples require reversal of ITC if credit was availed; destroyed or returned expired goods trigger ITC adjustments and may require credit notes or tax invoices depending on statutory time limits. SEZ clearances are zero rated with refund or bond options, and SEZ units and ISDs need separate registration. Transitional deemed credit for existing stocks is available only subject to specified proportions, documentary conditions, and time limits, while supplies from tax free zones and purchases from unregistered suppliers attract GST consequences including reverse charge.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Input tax credit rules shape GST treatment of pharmaceutical supplies, with transaction value assessment and mandated ITC reversals.</h1> Assessment of drugs and formulations under GST is on the basis of transaction value with an end to end Input Tax Credit chain. Free physician samples require reversal of ITC if credit was availed; destroyed or returned expired goods trigger ITC adjustments and may require credit notes or tax invoices depending on statutory time limits. SEZ clearances are zero rated with refund or bond options, and SEZ units and ISDs need separate registration. Transitional deemed credit for existing stocks is available only subject to specified proportions, documentary conditions, and time limits, while supplies from tax free zones and purchases from unregistered suppliers attract GST consequences including reverse charge.
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