WHAT IS GST?
GST i.e.Goods and Service Tax is a unified tax that replaces several indirect taxesleviedby the Central Government and the State Government(s)....
Read more80. Raw materials and manufacture.M.VAT RULES | |
80. Raw materials and manufacture.
For the purposes of the rules relating to the Package Schemes of Incentives,
(a) the expression ‘raw materials’ shall mean components, intermediate goods, consumables, stores, lubricants, fuels of all types, news print, which are used in the process of manufacture of any goods including newspapers and packing materials used in the packing of the said goods and in respect of the units dealing in iron and steel as described in section 14 of the Central Sales Tax Act, 1956 shall include natural gas used both as fuel and raw materials.
(In rule 80 in clause (a), for the words "and packing materials which are used in the packing of manufactured products ", the words "of any goods including newspapers and packing materials used in the packing of the said goods" are substituted w.e.f. 1st April 2005 by Notification No. STR-1506/CR-38/Taxation-1 Dt.08.09.2006)
(b) the expression ‘manufacture’ or its cognate expression when used in respect of units certified by the State Industrial and Investment Corporation of Maharashtra Limited (SICOM) or, as the case may be, the Directorate of Industries (but not in respect of units certified by any other implementing agency) shall include the following processes,-
(i) conversion of hot rolled sheets/strips into cold rolled sheets/strips,
(ii) conversion of steel sheets/strips into galvanised sheets/strips,
(iii) conversion of thicker gauges of iron and steel sheets into thinner gauge of iron and steel sheet,
(iv) drawing wire from wire rods or galvanising wire,
(v) giving heat treatment, threading and casing of seamless pipes,
(vi) processing of un-wrought, semi manufactured or concentrated forms of gold and silver into refined bullion.
(c) the expression "manufacture" or its cognate expression when used in respect of units certified by SICOM, or the Directorate of Industries, or as the case may be, the District Industries Centre shall include the following processes:
(i) Ginning of seed cotton in order to separate seed and cotton lint;
(ii) conversion of ginned cotton to baled cotton;
(iii) preparing butter from cream ;
(iv) preparing ghee from butter
(The above clause (c) is inserted w.e.f. 01.04.2005 by Notification No. STR-1506/CR-38/Taxation-1 Dt.08.09.2006)
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GST i.e.Goods and Service Tax is a unified tax that replaces several indirect taxesleviedby the Central Government and the State Government(s)....
Read moreIn pre-GST regime, goodswere liable to: (i) Excise Duty- on manufacture of goods; (ii) VAT/CST- on sale of goods; (iii) Entry tax- on ...
Read moreGST is levied on every taxable person. Taxable person means a person who carries on any business at any place in India. Such . ..
Read moreGST is a unified tax which is levied on: (i) goods; (ii) services and (iii) a mix of goods and/or services. Any supply of goods or services . .. ...
Read moreGST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.
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Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.
The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .