Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
The AAR held that, on the presented facts and documentary evidence (FSSAI licence, trademark certificate and test report), the applicant's refined rice bran oil is of edible grade and, notwithstanding its marketing as lamp oil, classification must be governed by the product's composition rather than asserted end-use absent explicit tariff provision. Consequently, the oil, when supplied without additives or admixture of other oils, is classifiable under Tariff Heading 1515 90 40 of the Customs Tariff Act, 1975. The ruling denies reclassification based on commercial description and concludes that Sl. No. 87 of Schedule I to Notification No. 1/2017-Central Tax (Rate) is not applicable to alter this classification.
The AAR held that, on the presented facts and documentary evidence (FSSAI licence, trademark certificate and test report), the applicant's refined rice bran oil is of edible grade and, notwithstanding its marketing as lamp oil, classification must be governed by the product's composition rather than asserted end-use absent explicit tariff provision. Consequently, the oil, when supplied without additives or admixture of other oils, is classifiable under Tariff Heading 1515 90 40 of the Customs Tariff Act, 1975. The ruling denies reclassification based on commercial description and concludes that Sl. No. 87 of Schedule I to Notification No. 1/2017-Central Tax (Rate) is not applicable to alter this classification.
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