Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Whether certain construction equipment (dumpers, loaders, excavators, dozers, drills, rock breakers etc.) qualify as "motor vehicles" under Section 2(28) and are taxable: the Court held the definition is bifurcated-an inclusive limb (mechanically propelled vehicles adapted for roads) and an explicit exclusion (vehicles of a special type adapted for use only in a factory or enclosed premises). Because the machines were adapted and used essentially within enclosed/factory premises they fall within the exclusion and are not taxable under Entry 57, List II or Schedule I to the Gujarat Tax Act. If such equipment is actually used on roads, statutory registration, tax liability and penal consequences may follow. Impugned HC orders set aside; appeal allowed. - SC
Whether certain construction equipment (dumpers, loaders, excavators, dozers, drills, rock breakers etc.) qualify as "motor vehicles" under Section 2(28) and are taxable: the Court held the definition is bifurcated-an inclusive limb (mechanically propelled vehicles adapted for roads) and an explicit exclusion (vehicles of a special type adapted for use only in a factory or enclosed premises). Because the machines were adapted and used essentially within enclosed/factory premises they fall within the exclusion and are not taxable under Entry 57, List II or Schedule I to the Gujarat Tax Act. If such equipment is actually used on roads, statutory registration, tax liability and penal consequences may follow. Impugned HC orders set aside; appeal allowed. - SC
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