ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
AAR held that the proposed blended "cotton seed cattle feed" supplied by the applicant does not qualify for exemption under Serial No. 102 of the Central Tax Rate Notification and is not a new product altering the nature or identity of its constituent oilcakes. The AAR classified the product under HSN 23061090 as oil-cake/other solid residues and held the supply taxable at 2.5%. The Authority further noted that both constituent inputs are taxable and purchasers are eligible for input tax credit, precluding exemption on subsequent sales of the blended feed.
AAR held that the proposed blended "cotton seed cattle feed" supplied by the applicant does not qualify for exemption under Serial No. 102 of the Central Tax Rate Notification and is not a new product altering the nature or identity of its constituent oilcakes. The AAR classified the product under HSN 23061090 as oil-cake/other solid residues and held the supply taxable at 2.5%. The Authority further noted that both constituent inputs are taxable and purchasers are eligible for input tax credit, precluding exemption on subsequent sales of the blended feed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
