Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Supreme Court Upholds Excise Duty on Stock Transfers to Sister Units Should Be Valued Under Rule 8...
Excise, VAT & CustomOther Legal Matters
The Supreme Court has upheld that the "excise duty on stock transfers to sister units" should be valued under Rule 8 at 110% of the cost. The court's decision settles a long-standing legal dispute and provides a clear precedent on the valuation of such transfers. The ruling reinforces the tax department's position and clarifies how inter-company transactions should be valued for excise purposes. This judgment is a crucial development for businesses with multiple manufacturing units.
