Taxability of Fabric & Furnishing Cloth under MVAT Act

The Trade Circular was issued to clarify the taxability of the goods covered under Entry 101(a) and 101(b) of the Schedule-C appended to the MVAT Act. It was clarified that the sales of the notified furnishing fabric are exempted from tax in respect of all sales made other than the last point. The Notification cited at Ref. (1) above specifies the last point of sales as sale made for consumption. In other words, the sales of furnishing fabric as covered under entry 101 made by the registered...

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