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Clarification on Material Cost Deductions for Tire Retreading Under Notification No. 12/2003-ST; Tax Still Applies Without Specific Rules.
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....Valuation - deduction of value of material used in the retreading of tyres - Notification No. 12/2003-ST dated 20.6.2003 - Merely because no rules are framed for computation, it does not follow that no tax is leviable - AT....