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of <h1>Supreme Court Clarifies: Spare Parts Can Be 'Component Parts' for Import Benefits If No Usage Restrictions Exist.</h1> The circular addresses the distinction between 'components' and 'spare parts' in the context of import benefits. The Supreme Court, in a decision involving a dispute between a sanitaryware company and customs authorities, ruled that spare parts, even when used for replacements, qualify as 'component parts' if the notification does not specify usage restrictions. This interpretation aligns with a Tribunal decision, indicating that unless explicitly restricted, 'component parts' include items imported as spare parts. The circular instructs relevant authorities to apply this ruling to resolve pending disputes swiftly.
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