- Tribunal : PepsiCo’s ‘Nimbooz’, ‘Slice’ and ‘Tropicana’ taxable as fruit drinks at 4%/5.5% KVAT, not 14%/14.5%
- SC : ‘Sharbat’ deriving identity from fruit content, is fruit drink; Applies common-parlance, essential-character test
- HC : Test report not invalid merely because samples tested in two labs; Upholds DRI seizure
- SC : Copy of SC-judgment quashing demand on 'Naphtha' predominantly used for fertilizer-production despite partial non-fertilizer use
- HC : Post-import lapses by importers don’t attract penalty on foreign exporter; Clarifies Department’s extra-territorial jurisdiction
Union Cabinet approves promulgation of Dadra and Nagar Haveli VAT (Amendment) Regulation, 2015 by the President under Article 240 of Constitution; Accordingly, VAT leviable @ 5% on goods specified in Third Schedule, in terms of amendment to Sec 4(1)(b) of VAT Regulation 2005; Same would help generate additional gross revenue and net tax generation of around Rs 120 Cr
Press Release dated August 18, 2015
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