Dear all
can anybody tell me the exact definition of manufacture acc. to income tax act, small scale industries act, or any other with reference to these ?
it will be more beneficial for me if u will provide me the url of such definition !
thanx in advance !
According to Sec 2 (29BA) of Income tax act
manufacture, with its grammatical variations, means a change in a non-living physical object or article or thing,
(a) resulting in transformation of the object or article or thing into a new and distinct object or article or thing having a different name, character and use; or
(b) bringing into existence of a new and distinct object or article or thing with a different chemical composition or integral structure;
thanx dear !
but i want to knw also definition of manufacture as per other acts such as SSI
can anybdy give me that ?
if yes then plz !
Hi there
Manufacture as per Excise Act
1. Any activity ancillary to manufacture or producing a product
2. Any activity mentioned in Schedule 1 which is considered as deemed to be manufacture
3. labelling or relabelling, Packing or Re-Packing, Declaration of Retail price or alteration of retail price in relation to the goods mentioned in schedule 3 shall be considered as deemed manufacture.
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