AIOCD seeks special provision for expired drugs & formulations in GST (Health & Beauty - Fitness)

USNetAds > Health & Beauty > Fitness > AIOCD seeks special provision for expired drugs & formulations in GST

Item ID 129685721 in Category: Health & Beauty - Fitness

AIOCD seeks special provision for expired drugs & formulations in GST


Free Online Advertising
Free Internet Web Site Advertising.


UK Free Classifieds
United Kingdom Free Ads Website.
100% Free Ad Posting.


Canada Free Ads
Popular Online Classifieds in Canada.
No Sign up, No Email Required to Post.

The All India Organisation of Chemists & Druggists (AIOCD), an apex body of about 8 lakh chemists and druggists in the country, has urged GST Council to introduce a special provision in the GST for return of expired drugs and formulations (reverse logistics) to resolve ambiguity prevailing among drug traders.

AIOCD in a letter to Upender Gupta, Commissioner, GST said that the average period of expiry of medicine is about three years. Prior to introduction of GST, after three years the retailers return the goods under their challan to the wholesaler who in turn return to the company. The company provides the credit note with excise duty and sales tax. There are huge number of transactions between the company and the wholesaler, and wholesaler and the retailers. Therefore, it is practically impossible to link the return quantity with the purchase invoice.

As per provisions of Drugs and Cosmetic Act, 1940 the retailer cannot prepare sales invoice on wholesaler for expired medicines. Similarly wholesaler cannot raise invoice on company for return of goods. Under GST the goods shall be returned to the wholesaler after preparing the invoice. This contradicts the provisions of the Drugs and Cosmetics Act 1940.


Related Link: Click here to visit item owner's website (0 hit)

Target State: All States
Target City : Delhi
Last Update : Jan 02, 2018
Number of Views: 34
Item  Owner  : Medicarenews
Contact Email:
Contact Phone: 9215371777

Friendly reminder: Click here to read some tips.
USNetAds > Health & Beauty > Fitness > AIOCD seeks special provision for expired drugs & formulations in GST
 © 2018 USNetAds.com
2018-09-24 (0.070 sec)