https://www.taxtmi.com/news?id=18539 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. en-us Tue, 01 Aug 2017 10:36:24 +0530 Tue, 01 Aug 2017 16:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18539 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. News - Tue, 01 Aug 2017 10:36:24 +0530 https://www.taxtmi.com/news?id=18539