https://www.taxtmi.com/caselaws?id=406815 The authority ruled that the Pharmaceutical Reference Standards (Prepared Laboratory Reagents) are covered under Entry No. 80 of Schedule II to Notification No. 1/2017-Integrated Tax (Rate), attracting a 12% Integrated Tax rate. This decision was based on the classification under Tariff Item 3822 00 90 of the Customs Tariff Act and the legislative intent to reduce the GST rate on all reagents. The ruling overturned a previous decision and aligned with the Fitment Committee's recommendations for lower tax incidence under the GST regime. en-us Fri, 16 Apr 2021 00:00:00 +0530 Fri, 04 Mar 2022 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406815 The authority ruled that the Pharmaceutical Reference Standards (Prepared Laboratory Reagents) are covered under Entry No. 80 of Schedule II to Notification No. 1/2017-Integrated Tax (Rate), attracting a 12% Integrated Tax rate. This decision was based on the classification under Tariff Item 3822 00 90 of the Customs Tariff Act and the legislative intent to reduce the GST rate on all reagents. The ruling overturned a previous decision and aligned with the Fitment Committee's recommendations for lower tax incidence under the GST regime. Case-Laws GST Fri, 16 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406815