https://www.taxtmi.com/caselaws?id=161771 A fiscal incentive scheme for new industrial units may treat a commercially distinct and marketable by-product as a "product" where the governing order does not define the term or confine the benefit to the principal output alone. Cotton waste arising in the spinning process was considered separate from the raw material, commercially saleable, and taxable in its own right, so it fell within the scope of the incentive. The practical effect was entitlement to sales tax deferral on the sale of the by-product. en-us Wed, 05 Dec 2001 00:00:00 +0530 Wed, 05 Feb 2014 18:56:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161771 A fiscal incentive scheme for new industrial units may treat a commercially distinct and marketable by-product as a "product" where the governing order does not define the term or confine the benefit to the principal output alone. Cotton waste arising in the spinning process was considered separate from the raw material, commercially saleable, and taxable in its own right, so it fell within the scope of the incentive. The practical effect was entitlement to sales tax deferral on the sale of the by-product. Case-Laws VAT and Sales Tax Wed, 05 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161771