Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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Tobacco pre-mixed with lime undergoes a manufacturing process involving mixing of lime paste, evaporation of water content, and addition of aroma, menthol, and moisturizer, resulting in a new product distinct from raw tobacco leaves. This process transforms the raw material into a marketable/consumable product for chewing needs, classifying it as "manufactured chewing tobacco" under CTH 2403 99 10. Consequently, the applicable GST rate is 28%, and the Compensation Cess rate is 160% as per Notification No. 1/2017-Compensation Cess (R). The ruling relies on the Supreme Court's decision in State of Madras Vs Bell mark Tobacco Company, which held that the cumulative effect of various processes on tobacco amounts to a manufacturing process.
Tobacco pre-mixed with lime undergoes a manufacturing process involving mixing of lime paste, evaporation of water content, and addition of aroma, menthol, and moisturizer, resulting in a new product distinct from raw tobacco leaves. This process transforms the raw material into a marketable/consumable product for chewing needs, classifying it as "manufactured chewing tobacco" under CTH 2403 99 10. Consequently, the applicable GST rate is 28%, and the Compensation Cess rate is 160% as per Notification No. 1/2017-Compensation Cess (R). The ruling relies on the Supreme Court's decision in State of Madras Vs Bell mark Tobacco Company, which held that the cumulative effect of various processes on tobacco amounts to a manufacturing process.
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