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...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
This circular clarifies the classification of clear float glass under the Customs Tariff Act, 1975. It addresses whether the presence of a tin layer on one side of float glass should be treated as an absorbent, reflective layer, impacting its classification. The circular refers to Chapter Note 2(c) of Chapter 70, defining "absorbent, reflecting or non-reflecting layer" as a microscopically thin coating of metal or chemical compound that absorbs infrared light, improves reflecting qualities, or prevents light reflection while retaining transparency/translucency. After consulting CSIR-Central Glass & Ceramic Research Institute, it concludes that the tin layer on float glass is inherent to the manufacturing process and does not satisfy the definition under Note 2(c). Consequently, clear float glass without wiring, coloring, reflective or tinted properties, and only a tin layer on one side without any other metal oxide layer, will be classified under tariff item 7005 29 90 as it lacks an absorbent layer.
This circular clarifies the classification of clear float glass under the Customs Tariff Act, 1975. It addresses whether the presence of a tin layer on one side of float glass should be treated as an absorbent, reflective layer, impacting its classification. The circular refers to Chapter Note 2(c) of Chapter 70, defining "absorbent, reflecting or non-reflecting layer" as a microscopically thin coating of metal or chemical compound that absorbs infrared light, improves reflecting qualities, or prevents light reflection while retaining transparency/translucency. After consulting CSIR-Central Glass & Ceramic Research Institute, it concludes that the tin layer on float glass is inherent to the manufacturing process and does not satisfy the definition under Note 2(c). Consequently, clear float glass without wiring, coloring, reflective or tinted properties, and only a tin layer on one side without any other metal oxide layer, will be classified under tariff item 7005 29 90 as it lacks an absorbent layer.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
