https://www.taxtmi.com/highlights?id=82773 The case pertains to the taxability of panel boards purchased by a manufacturer of submersible pumps. The issue was whether panel boards purchased against Form XVII declarations should be taxed separately at a higher rate or as part of an integrated unit with submersible pumps. The court held that since the assessing authority accepted the nature of the final product supplied as an integrated set comprising both the submersible pump and panel board, it is difficult to treat the two items as separate products liable to different tax rates. The court distinguished the present case from the Northwest Switchgear Ltd case, where fan regulators were sold as independent products, and hence classified as parts/accessories attracting higher duty. In..... en-us Tue, 05 Nov 2024 13:18:52 +0530 Tue, 05 Nov 2024 13:18:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=82773 The case pertains to the taxability of panel boards purchased by a manufacturer of submersible pumps. The issue was whether panel boards purchased against Form XVII declarations should be taxed separately at a higher rate or as part of an integrated unit with submersible pumps. The court held that since the assessing authority accepted the nature of the final product supplied as an integrated set comprising both the submersible pump and panel board, it is difficult to treat the two items as separate products liable to different tax rates. The court distinguished the present case from the Northwest Switchgear Ltd case, where fan regulators were sold as independent products, and hence classified as parts/accessories attracting higher duty. In..... Highlights VAT / Sales Tax Tue, 05 Nov 2024 13:18:52 +0530 https://www.taxtmi.com/highlights?id=82773