Brand name exclusions clarified: specific criteria and process for unit packaged goods affect tax exemption treatment. Amendments substitute Schedule exclusions to cover unit packaged goods that either bear a registered brand name or bear a brand name on which an actionable claim or enforceable right exists, while allowing voluntary forfeiture of such claim subject to Annexure I conditions. The Explanation defines 'brand name' and 'registered brand name' for application of these exceptions. The notification also inserts and substitutes multiple Schedule entries (including cotton seed oil cake, KVIC Khadi fabric, clay idols) and adds Annexure II listing indigenous handmade musical instruments.
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Brand name exclusions clarified: specific criteria and process for unit packaged goods affect tax exemption treatment.
Amendments substitute Schedule exclusions to cover unit packaged goods that either bear a registered brand name or bear a brand name on which an actionable claim or enforceable right exists, while allowing voluntary forfeiture of such claim subject to Annexure I conditions. The Explanation defines "brand name" and "registered brand name" for application of these exceptions. The notification also inserts and substitutes multiple Schedule entries (including cotton seed oil cake, KVIC Khadi fabric, clay idols) and adds Annexure II listing indigenous handmade musical instruments.
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