Tax exemption scope clarified: state notification amends eligible institutions and aligns exemption with central customs notification. The notification revises eligible entities to read 'Public funded research institution or a University or an Indian Institute of Technology or Indian Institute of Science, Bangalore or a Regional Engineering College, other than a hospital' and replaces references to 'Department of Scientific and Research' with 'Department of Scientific and Industrial Research' for specified entries. It further inserts an Explanation 2 stating that the exemption aligns with the Government of India Ministry of Finance (Department of Revenue) customs notification and is applicable with effect from 19 November, 2017.
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Tax exemption scope clarified: state notification amends eligible institutions and aligns exemption with central customs notification.
The notification revises eligible entities to read "Public funded research institution or a University or an Indian Institute of Technology or Indian Institute of Science, Bangalore or a Regional Engineering College, other than a hospital" and replaces references to "Department of Scientific and Research" with "Department of Scientific and Industrial Research" for specified entries. It further inserts an Explanation 2 stating that the exemption aligns with the Government of India Ministry of Finance (Department of Revenue) customs notification and is applicable with effect from 19 November, 2017.
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