CBIC clarifies procedure for return of time expired drugs or medicines

CBIC issues Circular to clarify the procedure in respect of return of time expired drugs or medicines under GST to ensure uniformity in the implementation of law; Provides that such return of time expired goods shall be treated as ‘fresh supply’, in which case the recipient manufacturer/wholesaler shall be eligible to avail ITC of tax levied on said return subject to conditions; Explains that, manufacturer/wholesaler who has supplied goods to wholesaler/ retailer, has opt...