HC
holds ‘Swad’ candy as an ayurvedic medicine and not confectionary, thereby
taxable at 6% under Rajasthan Sales Tax Act; Rejects Revenue contention that
since ‘Swad’ candy is freely available at shops other that medical stores, it
cannot be said to be a medicine and hence, taxable at 10%; States that any drug
for prevention of disease or disorder in human beings or animals, and
manufactured exclusively in accordance with the formulae prescribed in
authoritative books, can be said to fall within the definition of a “drug”;
Applying common parlance test and taking note of the ingredients, HC states
that ‘Swad’ cannot be said to be a toffee, as one takes the same in case of a
stomach disorder or for digestion purposes; States that “merely because it is
available in a tea stall or a betel shop or other various places where
confectionery items are sold, does not change the character of an item”, while
noting that no evidence or authoritative material has been put on record by
Revenue so that it can be said to be a confectionery item and not a drug :
Rajasthan HC
Subscribe to:
Post Comments (Atom)
Requirement to dematerialize shares of private limited companies
The Ministry of Corporate Affairs in October 2023 had mandated private companies and their shareholders to dematerialize their shareholding...
-
Particulars in Part 1 and Part 2 of Step-2 of registration form are required to be exactly the same as reported in the TDS statement. Plea...
-
LEASE-DEED (A brief Introduction) Lease defined. A lease of immovable property is a transfer of a right to enjoy such property, mad...
-
1. Introduction: Every trust/charitable society/ NGO that wishes to claim the tax exemption benefits has to file Form 10A to seek fresh re...
-
· Mumbai ITAT in the case of Mukesh Harilal Mehta held that Exemption U/S 54 cannot be denied merely due to mistake by the developer.
-
Filing income tax returns (ITR) within the specified timelines under the Income-tax Act is not just a legal obligation but also crucial fo...
-
NECESSITY : Sometimes, in view of the expansion of the business, multiple increase in turnover and need for getting finances from the ...
-
Earlier this year, the Mauritius Government approved the amendment to the India – Mauritius tax treaty, aligning it with the proposal of th...
-
This Tax Alert summarizes a recent instruction issued by the SEZ Division, Department of Commerce, clarifying various concerns relating t...
-
Slump sale is transfer of one or more business undertakings for a lump sum consideration, without assigning individual values to the each...
-
This Tax Alert summarizes a recent judgement of the Delhi High Court (HC) [1] dealing with the issue of denial of input tax credit (ITC) ...
No comments:
Post a Comment