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Supreme Court Dismisses Power Trust's Appeal Against CIRP Initiation for Appellant(s), Upholds NCLAT Order Admitting Section 7 IBC Application Due to Default and Non-Compliance with Restructuring Conditions

The Supreme Court dismissed an appeal challenging the initiation of corporate insolvency resolution process (CIRP) against Hiranmaye Energy Ltd. under...

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Bombay High Court Quashes Customs Order-in-Original for Defying Advance Ruling on Betel Nut Classification. Authority for Advance Rulings' classification of betel nut products under CTH 2106 90 30 is binding on Customs authorities under Section 28J of the Customs Act, 1962.

The petitioner, Isha Exim, a business engaged in importing edible products including processed betel nut (supari), challenged an Order-in-Original dat...

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High Court of Karnataka Dismisses Revenue Appeals in Central Excise Classification and Cenvat Credit Disputes. The court held that the definition of 'input service' under the Cenvat Credit Rules is broad and classification of goods must be based on predominant function and commercial understanding.

The judgment involves a batch of appeals filed by the Commissioner of Central Excise under Section 35G of the Central Excise Act, 1944, against orders...

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Bombay High Court Dismisses Revenue's Appeal in Sales Tax Classification Dispute. Non-prescription sunglasses/goggles are medical devices under Schedule Entry C-107(8) of MVAT Act, 2002, taxable at 4%, not residuary entry E-1 at 12.5%.

The case involves a dispute over the classification of non-prescription sunglasses/goggles under the Maharashtra Value Added Tax Act, 2002. The respon...