The Authority of Advance Ruling (AAR), Uttar Pradesh has ruled that the service procured for the promotional scheme is not entitled to the input tax credit. M/s Rodec Pharmaceuticals Private Limited, the Applicant engaged in the business of Trading Animal Health Products. The product groups are classified into Antibiotic, Anthelmintic, and Analgesic & Antipyretic, Anti-Spasmodic, Ectoparasiticide, Feed Supplement, and Progesterone which were both taxable and exempted under the GST Act.
Source Taxscan
Latest Posts in "India"
- Meghalaya Extends VAT Exemption on Fruit Wine to 10 Years, Boosting Local Wine Industry
- Allahabad HC: Arbitrary GST Registration Cancellations Without Reasons Amount to ‘Economic Death’ for Businesses
- Chennai Fake GST Invoice Racket Busted; ₹350 Crore Evasion Suspected, Prime Accused Arrested
- Overpaid GST: Rectification or Refund? Understanding When to Adjust and When to Claim Refund
- Insurance Brokers Push for Zero-Rated GST to Restore Input Tax Credit and Prevent Premium Hikes
