Excise duty exemption for specified bulk drugs and formulations reduces effective levy subject to prescribed conditions and procedures. The notification exempts listed bulk drugs and formulations made from them from excise duty in excess of the notified effective rate (nil for listed items), extends nil-rate exemption to specified intermediates when used to make those bulk drugs subject to Chapter X procedures if used outside the producing factory, and prescribes a 10% effective duty rate for other bulk drugs. It defines 'bulk drug' by composition and pharmacopoeial standards and 'formulation' as medicaments containing bulk drugs with inert pharmaceutical aids.
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.
Excise duty exemption for specified bulk drugs and formulations reduces effective levy subject to prescribed conditions and procedures.
The notification exempts listed bulk drugs and formulations made from them from excise duty in excess of the notified effective rate (nil for listed items), extends nil-rate exemption to specified intermediates when used to make those bulk drugs subject to Chapter X procedures if used outside the producing factory, and prescribes a 10% effective duty rate for other bulk drugs. It defines "bulk drug" by composition and pharmacopoeial standards and "formulation" as medicaments containing bulk drugs with inert pharmaceutical aids.
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