AAAR : Micafungin Sodium sold by Biocon DTA for Injection, subject to concessional GST rate at 5%

Karnataka AAAR sets aside AAR’s findings, holding that the sale of ‘Micafungin Sodium’ by DTA unit of Appellant (Biocon Ltd.) is eligible for concessional rate of GST at 5% as per Rate Notification no. 01/2017 as concession has to be given on the basis of usage of the drug; Notes that the SEZ unit of the Appellant manufactures 'Micafungin Sodium' and sells the same as bulk drug to third party DTA units, who in turn use it for injections; AAR ruled that the sale of ...