Court Rules VAT on Yarn Loss Unjust; Manufacturer Must Prove Loss Extent, Case Remanded for Review.

Demand of VAT on the invisible loss of yarn emerging during manufacturing process - Assessing Officers were not justified in adopting uniform percentage as invisible loss and calling upon the dealer to reverse the refund/input tax credit availed to that extent - it is the onus upon the manufacturer to prove the loss / waste - matter remanded back - HC .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X