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Learn MoreLorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.
Learn MoreLorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.
Learn MoreA voluntary organisation established on 6th July 1949, BCAS has presently more than 9,000 members from all over the country. BCAS is a principle-centered and learning-oriented organisation promoting quality service and excellence in the profession of Chartered Accountancy.
Learn MoreLorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.
Learn MoreLorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.
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Facts:
Polyester staple fibre was manufactured out of PET scrap and waste bottles since the classification of the item involved technical aspect the writ petition by the High Court could not solve the issue.
The CBEC issued a Circular as to classification of polyester staple fibre manufactured out of PET scrap and waste bottles and it was contrary to the Tribunal decision in the case of GPL Polyfils, on the same issue. The Circular specifically instructed its officers that the Tribunal decision in GPL Polyfils was not a binding precedent.
Held:
As regards the classification issue it was held that according to paragraph 8 of the Circular, it is to be classified as textile material and not as a plastic article. With reference to paragraph 10 of the impugned Circular, the same was struck down by the High Court stating that the Circular shall not be binding. Further, it stated that the adjudicating officers must take into consideration the Tribunal decision in GPL Polyfils and applicability of the same should be looked into.