https://www.taxtmi.com/article/detailed?id=10857 The Supreme Court applied the rule that an input is a raw material only if it is incorporated into and found in the finished product; because oxygen's primary function in steelmaking is to reduce carbon and serve as a refining agent rather than to form part of the end product, oxygen cannot be treated as raw material and therefore is not eligible for the concessional sales tax rate reserved for raw-material inputs. en-us Thu, 08 Dec 2022 11:49:47 +0530 Thu, 08 Dec 2022 11:49:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10857 The Supreme Court applied the rule that an input is a raw material only if it is incorporated into and found in the finished product; because oxygen's primary function in steelmaking is to reduce carbon and serve as a refining agent rather than to form part of the end product, oxygen cannot be treated as raw material and therefore is not eligible for the concessional sales tax rate reserved for raw-material inputs. Articles Value Added Tax - VAT and CST Thu, 08 Dec 2022 11:49:47 +0530 https://www.taxtmi.com/article/detailed?id=10857