manufacturing process

In this article we will try to figure out the true picture of US economy through some prime indicators and the probable ways by which US economy can try to come out of the dark woods. We will try to find the trend, analyse and foresight the future of the US economy. Full Article

The Central Excise duty is leviable on the process of “manufacture”. Any process that brings a new article into existence with different name, character and use is known as manufacturing activity. For levying duty on any article it must satisfy 2 basic conditions that it must be “goods” and should have come into existence as a result of “manufacture”. Full Article

In a manufacturing process, there are a lot of raw materials used to make a final product. The excise duty paid on the said raw materials or inputs used in manufacturing of final products are eligible as Cenvat credit under the Cenvat credit scheme. However, all materials used in a manufacturing process are not inputs [...] Full Article

CASE LAW DETAILS Decided by:. ITAT, MUMBAI BENCHES `G’ MUMBAI, In The case of: Glenmark Pharmaceuticals Ltd. v ITO (TDS),  Appeal No. : ITA NO. 935/Mum./2007, Decided on: March 5, 2009 SUMMARY OF CASE LAW Simply because the assessee monitors the manufacturing process it does not change the character of the transaction  RELEVENT PARAGRAPH 23. After careful [...] Full Article