https://www.taxtmi.com/caselaws?id=336051 The High Court ruled in favor of the assessee on both issues, granting Input Tax Credit (ITC) on "Product Information Literature" and laboratory stores used for testing under the Gujarat Value Added Tax Act, 2003. The Court considered the items as "consumable stores" falling within the definition of "raw material," emphasizing their importance in ensuring product marketability and compliance with statutory requirements. The Court's decision favored the assessee over the Revenue, allowing ITC on both items and disposing of the tax appeals accordingly. en-us Tue, 15 Nov 2016 00:00:00 +0530 Thu, 22 Mar 2018 16:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336051 The High Court ruled in favor of the assessee on both issues, granting Input Tax Credit (ITC) on "Product Information Literature" and laboratory stores used for testing under the Gujarat Value Added Tax Act, 2003. The Court considered the items as "consumable stores" falling within the definition of "raw material," emphasizing their importance in ensuring product marketability and compliance with statutory requirements. The Court's decision favored the assessee over the Revenue, allowing ITC on both items and disposing of the tax appeals accordingly. Case-Laws VAT and Sales Tax Tue, 15 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336051