Breif Issue :
FACTS OF THE CASE:
In this case The Applicant states that they are science-based organization conceptualized to cater to the growing analytical and regulatory requirement of the Pharmaceutical Industries and to provide solutions to the new challenges in separations and purifications faced in the Pharmaceutical and Research Institutions worldwide.
The applicant intends to import Pharmaceutical Reference Standards (hereinafter also referred to as ‘PRS') from Pharmacopeias like European Pharmacopeia (EP), British Pharmacopeia (BP), Indian Pharmacopeia (IP), Japanese Pharmacopeia (JP) and supplies them to all major pharmaceutical companies in India.
ISSUE OF THE CASE:
Whether Entry No. 80 in Schedule II to the Notification No. 1/2017-Integrated Tax (Rate) dated 28-06-2017 (as amended) is applicable for import as well as supply of “Prepared Laboratory Reagents / Pharmaceutical Reference Standards (PRS)” attracting a levy of Integrated Tax at the rate of 12% or Entry No.453 to Schedule III attracting a levy of Integrated Tax at the rate of 18%?
DECISION:
The Pharmaceutical Reference Standards (Prepared Laboratory Reagents) imported and supplied by the Appellant and classified under Tariff Item 3822 00 90 of the Customs Tariff Act, 1975 is covered under Entry No. 80 of Schedule-II to Notification No. 1/2017-Integrated Tax (Rate) dated 28th June, 2017 attracting a levy of Integrated Tax at the rate of 12%.
To Download Complete GIB/KA/ANALYTICA CHEMIE/16.04.2021/AAR-456 click here