https://www.taxtmi.com/circulars?id=69608 Classification of Ayurvedic medicines for tax purposes depends on whether the product is a classical medicine or a proprietary medicine. Classical medicines are manufactured according to the names, formulas and methods described in authoritative books listed in Schedule I of the Drugs & Cosmetics Act, 1940, with the relevant book named on the label, and are stated to fall in the 5 percent tax category. Proprietary medicines are prepared on self-developed formulas, with ingredient details and product name shown on the label, and are stated to fall in the 12 percent tax category. en-us Wed, 21 Feb 2018 00:00:00 +0530 Tue, 21 Apr 2026 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=69608 Classification of Ayurvedic medicines for tax purposes depends on whether the product is a classical medicine or a proprietary medicine. Classical medicines are manufactured according to the names, formulas and methods described in authoritative books listed in Schedule I of the Drugs & Cosmetics Act, 1940, with the relevant book named on the label, and are stated to fall in the 5 percent tax category. Proprietary medicines are prepared on self-developed formulas, with ingredient details and product name shown on the label, and are stated to fall in the 12 percent tax category. Circulars GST - States Wed, 21 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=69608