https://www.taxtmi.com/caselaws?id=402972 The Authority ruled that products manufactured by M/s. Altis Finechem Pvt. Ltd. are classified under HSN 2919 and are liable to GST at 18% rate, not eligible for the concessional 5% rate, as they are considered bulk drugs and not finished medicinal products. This decision was based on the interpretation that the products, being raw materials or Active Pharmaceutical Ingredients (API), cannot be directly administered to humans, thus not meeting the criteria for the lower GST rate applicable to drugs or medicines ready for administration. en-us Thu, 17 Sep 2020 00:00:00 +0530 Sat, 16 Jan 2021 11:11:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402972 The Authority ruled that products manufactured by M/s. Altis Finechem Pvt. Ltd. are classified under HSN 2919 and are liable to GST at 18% rate, not eligible for the concessional 5% rate, as they are considered bulk drugs and not finished medicinal products. This decision was based on the interpretation that the products, being raw materials or Active Pharmaceutical Ingredients (API), cannot be directly administered to humans, thus not meeting the criteria for the lower GST rate applicable to drugs or medicines ready for administration. Case-Laws GST Thu, 17 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402972