Court Rules Sale of Byproducts Like Firewood Doesn't Affect Input Tax Credit Eligibility for Timber Manufacturing.

Court Rules Sale of Byproducts Like Firewood Doesn't Affect Input Tax Credit Eligibility for Timber Manufacturing. https://www.taxtmi.com/highlights?id=30605 Input tax credit - Merely because in the process of manufacturing sawn timber or logs, a small quantity of waste incidentally is created by way of byproduct which is sold as firewood, would not mean that the raw material purchased was not used fully for manufacture of the specified product. - HC en-us Wed, 03 Aug 2016 23:39:49 +0530 Wed, 03 Aug 2016 23:39:49 +0530 TaxTMI RSS Generator Court Rules Sale of Byproducts Like Firewood Doesn't Affect Input Tax Credit Eligibility for Timber Manufacturing. https://www.taxtmi.com/highlights?id=30605 Input tax credit - Merely because in the process of manufacturing sawn timber or logs, a small quantity of waste incidentally is created by way of byproduct which is sold as firewood, would not mean that the raw material purchased was not used fully for manufacture of the specified product. - HC Highlights VAT and Sales Tax Wed, 03 Aug 2016 23:39:49 +0530 https://www.taxtmi.com/highlights?id=30605