Exisable goods
Querist : Anonymous
Are handicrafts and terracotta (earthenware) exisable goods ?
Querist : Anonymous
1stly, the process done with the inputs amounts to such process that a new and distinct product comes into existence.
2ndly, this new and distinct product is marketable.
3rdly, the product is mentioned under the Central Excise Tariff Act.
Your case is of the 3rd level. the products mentioned by you are not there in CETA.
In any case these products are made mainly by cottage industries on which the government has various policies to uplift this sector. So they are one of those products which are promoted by the government and are kept immune from any tax liabilities.
Click here to login now
Similar Resolved Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- Journal entry of busniess expenses
- LIC maturity claim whether taxable
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
