GST rate of 12% applicable on import of Prepared Laboratory Reagents

THE AUTHORITY FOR ADVANCE RULINGS
IN KARNATAKA

The Question and Ruling as follows :

Whether Entry No. 80 in Schedule II to the Notification No.1/ 2017-Integrated Tax (Rate) dated 28-06-2017 (as amended) is applicable for import as well as supply of “Prepared Laboratory Reagents I Pharmaceutical Reference Standards (PRS)” attracting a levy of Integrated Tax at the rate of 12% or Entry No. 453 to Schedule m attracting a levy of Integrated Tax at the rate of 18%?

RULING

The Phannaceutical Reference Standards (Prepared Laboratory Reagents) imported and supplied by the Appellant and classified under Tariff Item 3822 00 90 of the Customs Tariff Act, 1975 is covered under Entry No. 80 of Schedule-II to Notification No. 1/2017-Integrated Tax (Rate), dated 28th June, 2017 attracting a levy of Integrated Tax at the rate of 12% .