https://www.taxtmi.com/caselaws?id=278325 Capital goods used in manufacturing taxable goods were held not to fall within the expression "input including raw material" in the 29.06.2010 notification. The Court reasoned that "input" refers to goods consumed or incorporated in the final product, ordinarily raw materials and consumables, whereas capital goods such as plant and machinery retain durability and are not used up in manufacture. The separate statutory treatment of tax credit for raw materials and capital goods confirmed that no reduction of input tax credit was intended on the sale of goods in inter-State trade and commerce on that basis. en-us Fri, 02 Feb 2018 00:00:00 +0530 Wed, 05 Jun 2019 11:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278325 Capital goods used in manufacturing taxable goods were held not to fall within the expression "input including raw material" in the 29.06.2010 notification. The Court reasoned that "input" refers to goods consumed or incorporated in the final product, ordinarily raw materials and consumables, whereas capital goods such as plant and machinery retain durability and are not used up in manufacture. The separate statutory treatment of tax credit for raw materials and capital goods confirmed that no reduction of input tax credit was intended on the sale of goods in inter-State trade and commerce on that basis. Case-Laws VAT and Sales Tax Fri, 02 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278325