“Montanide ISA 206 VG” not Classifiable as Vaccine for Veterinary Medicines: CESTAT deletes Penalty on

The CESTAT has ruled that Montanide ISA 206 VG does not classify as a veterinary vaccine, resulting in the deletion of a penalty imposed on Bharat Biotech under the Customs Act. The tribunal found that the product did not meet the criteria for veterinary vaccines, leading to the cancellation of the penalty for misclassification. This decision is critical for Bharat Biotech, as it eliminates the financial burden imposed due to incorrect classification. The ruling clarifies the classification of such products and the applicable customs duties, providing a precedent for similar cases in the pharmaceutical industry.