TMI BlogReversal of Input tax credit on exempted by-product - de-oiled cake fits into the definition of “goods”...Reversal of Input tax credit on exempted by-product - de-oiled cake fits into the definition of “goods” and this commodity is exempt from payment - it is the sale of goods which triggers the provisions of Section 17 of KVAT Act. Whether it is by-product or manufactured product is immaterial and irrelevant. - SC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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