https://www.taxtmi.com/caselaws?id=306237 Welding electrodes used in gas and electric welding for pre-fabricated structures were treated as raw material because they formed an integral part of the manufacturing process, even though they did not remain in the finished product; input tax credit on that basis was allowed. The 2008 amendment was held prospective and not applicable to Assessment Year 2006-07, so the assessee could not be denied the claimed benefit by retrospective application of the amendment. The assessment and appellate orders were set aside and the matter was remitted for fresh re-assessment after granting input tax credit. en-us Fri, 22 Apr 2022 00:00:00 +0530 Thu, 25 May 2023 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306237 Welding electrodes used in gas and electric welding for pre-fabricated structures were treated as raw material because they formed an integral part of the manufacturing process, even though they did not remain in the finished product; input tax credit on that basis was allowed. The 2008 amendment was held prospective and not applicable to Assessment Year 2006-07, so the assessee could not be denied the claimed benefit by retrospective application of the amendment. The assessment and appellate orders were set aside and the matter was remitted for fresh re-assessment after granting input tax credit. Case-Laws VAT and Sales Tax Fri, 22 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306237