Tax Management India. Com
                            Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals SMS News Articles Highlights
        Home        
 
Extracts
Home List
← Previous Next →

Circular to clarify the procedure in respect of return of time expired drugs or medicines.

GST - States - GST Circular No. 13/2018 - Dated:- 30-10-2018 - GOVERNMENT OF RAJASTHAN COMMERCIAL TAX DEPARTMENT F.17(134)ACCT/GST/2017/3973 Date: 30.10.2018 GST Circular No. 13/2018 All Joint Commissioner (Adm.), Commercial Taxes Department, ……………………………………………… Subject: Circular to clarify the procedure in respect of return of time expired drugs or medicines - Reg. Variou .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d: 2. The common trade practice in the pharmaceutical sector is that the drugs or medicines (hereinafter referred to as goods ) are sold by the manufacturer to the wholesaler and by the wholesaler to the retailer on the basis of an invoice/bill of supply as case may be. It is significant to mention here that such goods have a defined life term which is normally referred to as the date of expiry. Such goods which have crossed their date of expiry are colloquially referred to as time expired goods .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

hereby issuing an invoice for the same (hereinafter referred to as the, return supply ). The value of the said goods as shown in the invoice on the basis of which the goods were supplied earlier may be taken as the value of such return supply. The wholesaler or manufacturer, as the case may be, who is the recipient of such return supply, shall be eligible to avail Input Tax Credit (hereinafter referred to as ITC ) of the tax levied on the said return supply subject to the fulfilment of the condi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ging any tax on the same. d) Where the time expired goods which have been returned by the retailer/wholesaler are destroyed by the manufacturer, he/she is required to reverse the ITC availed on the return supply in terms of the provisions of clause (h) of subsection (5) of section 17 of the RGST Act. It is pertinent to mention here that the ITC which is required to be reversed in such scenario is the ITC availed on the return supply and not the ITC that is attributable to the manufacture of such .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ods by issuing Credit Note: a) As per sub-section (1) of Section 34 of the RGST Act the supplier can issue a credit note where the goods are returned back by the recipient. Thus, the manufacturer or the wholesaler who has supplied the goods to the wholesaler or retailer, as the case may be, has the option to issue a credit note in relation to the time expired goods returned by the wholesaler or retailer, as the case may be. In such a scenario, the retailer or wholesaler may return the time expir .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the supplier, subject to the condition that the person returning the time expired goods has either not availed the ITC or if availed has reversed the ITC so availed against the goods being returned. c) However, if the time limit specified in sub-section (2) of section 34 of the RGST Act has lapsed, a credit note may still be issued by the supplier for such return of goods but the tax liability cannot be adjusted by him in his hands. It may further be noted that in case time expired goods are re .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.