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.
Denne historien er fra December 19, 2024-utgaven av Mint Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra December 19, 2024-utgaven av Mint Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Adani sells ₹4,850-cr Adani Wilmar shares
The transaction saw massive demand from a diverse set of marquee int'l and domestic investors
India to be testbed for green technology
The Global Energy Alliance for People and Planet (GEAPP) plans to use India as a testbed for new decarbonization technologies that would then be commercially operationalized in other developing countries.
SC Stays Tax Notices of ₹1.5 tn to E-gaming Cos
The gaming companies and the revenue department both sought the stay
Sebi May Help FPIs Get a Taste for Gilts
For FPIs investing only in govt funds, Sebi would only ask for data which other authorities require for registration
Rupee hits new record low, slips to 85.97/USD
The rupee slipped to its all-time low on Friday as the dollar stood firm ahead of closely watched US labour market data, keeping regional currencies on the defensive.
Vedanta gets $300 mn in loans to refinance debt
Vedanta Resources—the parent firm of Mumbai-based mining conglomerate Vedanta Ltd—on Friday said it has secured $300 million in loans from a clutch of leading global banks such as Barclays and First Abu Dhabi Bank for refinancing its 2024 and 2026 bonds.
Reits, Invits, Muni bonds could surpass equity, debt
In the last nine months, ₹3.3 tn has been raised in equity, and it is expected to reach a total of ₹4.3 tn by year-end
Trump Gets No Jail Time or Probation in Hush Money Case
Trump Emerges From the Case Without Any Probation, Fine, or Continued Responsibility to the Court
Infy says exec stalled suite before Cognizant switch
Infosys accused Cognizant of six counts of not just hurting potential revenue but also anti-competitive practices
Industrial Output Surges to a 6-Month High of 5.2% in Nov
Despite the Nov rebound, industrial output growth for the Apr-Nov period stood at 4.1%
