News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax | PPE Safety Kit SITRA Approved | PPE Safety Kit
Customs and Excise »
 Delhi Customs issues Covid-19 Facilitation Measures: Relaxation in Procedure for Inbonding of Cargo Import under Warehouse Bill of Entry
 Notification No. 32/2020 CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
  Notification No. 07/2020 Central Board of Indirect Taxes and Customs
 Notification No. 07/2020 Central Board of Indirect Taxes and Customs
 Notification No. 01/2020 Central Board of Indirect Taxes and Customs
  Notification No.91/2019 Central Board Of Indirect Taxes And Customs
 Notification No. 90/2019 Central Board of Indirect Taxes and Customs
 Notification No. 89/2019 Central Bord Of Indirect Taxes And Customs
 Notification No.88/2019 Central Board Of Indirect Taxes And Customs
 Notification No. 87/2019- Customs Ministry Of Finance
 Notification No. 77/2019- Customs Ministry Of Finance

SC: No excise exeption on medicine with short shelf life
December, 06th 2010

A product with a very short shelf life is still marketable and cannot claim exemption from excise duty on that account, the Supreme Court stated while dismissing the appeal of Nicholas Piramal India Ltd against the view of the Commissioner of Central Excise, Mumbai.

The pharma company had argued that its Vitamin A in crude form had a shelf life of only two to three days and therefore the product was not marketable.

Therefore, central excise cannot be imposed on it. The tribunal rejected the contention.

On appeal, the Supreme Court upheld the tribunals view and clarified: Short shelf life cannot be equated with no shelf life and would not ipso facto mean that it cannot be marketed. A shelf life of two to three days is sufficiently long enough for a product to be commercially marketed.

Home | About Us | Terms and Conditions | Contact Us | PPE Kit SITRA Approved | PPE Safety Kit
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting