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The recent Goods and Services Tax (GST) reforms are expected to lead to a major transformation for the manufacturing sector in India. The revised GST structure, set to come into effect on September 22, is aimed at simplifying the tax structure, boosting consumption and empowering industries.
The CESTAT, New Delhi in the case of M/s Shri Vardhman Milk Dairy Pvt. Ltd. held that the activity of chilling, pasteurisation, standardisation and pouch packing of milk amounts to ‘manufacture’ under Chapter Note 6 of Chapter 4 of the Central Excise Tariff Act, 1985, and therefore cannot be taxed as Business Auxiliary Service under Section 65(19) of the Finance Act, 1994.
CBIC has made it mandatory from December 1 to declare the method used for producing synthetic or reconstructed diamonds at the time of export or import. This will help in quick processing and inspection of consignment which in turn will facilitate the trade.
The Hon’ble Supreme Court of India (“the Supreme Court”) in the case of State of Jharkhand and Others v. Linde…