AAR : Denies 5% concessional rate to bulk drug supplied by Biocon Ltd. (DTA) as raw-material

AAR denies concessional rate of GST to bulk drug ‘Micafungin Sodium’ supplied by DTA unit of Biocon Ltd. intended to be used by its customers for manufacturing formulations or vials; Observes that, issues involves 2 transactions (i) supply of bulk drug by applicant to its customers and (ii) supply by customer to the end user; Notes that applicant procures ‘Micafungin Sodium’, an organic antifungal chemical from their SEZ unit after paying 5% IGST and sell the same to ...