Tax relief for cos: SC says small coconut oil packs are edible oil
Mint Kolkata|December 19, 2024
The Supreme Court (SC) on Wednesday ruled that coconut oil in small bottles of up to 200ml should be classified as edible oil for taxation purposes, resolving a 15-year-long legal dispute between the excise department and manufacturers.
Krishna Yadav

However, the court clarified that if coconut oil is packaged in small bottles and labelled for use on hair, it should be classified as hair oil under the Central Excise Tariff Act, 1985.

Currently, under the goods and services tax regime, edible oil is taxed at 5%, while hair oil attracts an 18% levy.

This decision came as a relief to both manufacturers and consumers, preventing potential price hikes and maintaining access to essential products like edible coconut oil.

この記事は Mint Kolkata の December 19, 2024 版に掲載されています。

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この記事は Mint Kolkata の December 19, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

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