In earlier regime of Indirect Taxes, Rakhis were called Raksha Sutra or Kalava (like sacred Hindu threads Moli) and its HSN code or local VAT Code was given accordingly. After GST, shopkeepers were clueless about the code that should be on rachis.
Kerala High Court dismisses Fed. Bank’s appeal, ruling against 60% depreciation on EPABX and mobile phones. No merit found in prior period expenditure dispute.
