https://www.taxtmi.com/caselaws?id=268512 A conditional exemption granted to a manufacturer or to a particular sale does not convert the underlying goods into exempted goods for input tax credit purposes. The SC distinguished goods exempt from tax under the Act from exemptions operating only on a specified person, class of persons, or transaction. Because asbestos cement sheets remained taxable goods and only the manufacturer's sale was exempt under the notification conditions, the denial of input tax credit on raw materials under Section 18(1)(e) was unsustainable. The assessee was therefore entitled to input tax credit, and the revenue's position failed. en-us Tue, 24 Nov 2015 00:00:00 +0530 Fri, 06 Jan 2023 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268512 A conditional exemption granted to a manufacturer or to a particular sale does not convert the underlying goods into exempted goods for input tax credit purposes. The SC distinguished goods exempt from tax under the Act from exemptions operating only on a specified person, class of persons, or transaction. Because asbestos cement sheets remained taxable goods and only the manufacturer's sale was exempt under the notification conditions, the denial of input tax credit on raw materials under Section 18(1)(e) was unsustainable. The assessee was therefore entitled to input tax credit, and the revenue's position failed. Case-Laws VAT and Sales Tax Tue, 24 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268512