Tyre Industry
Whether Rubber Sheets made out of natural rubber can be called agricultural products to get benefit of taxation on industries using it to manufacture tyre ---on the ground that it is based on agricultural product
2 Answers from Attorneys
Re: Tyre Industry
No it cannot be called agricultural product - as it is in stage 2 that the sheets are made - and it is not natural sheets but man made using natural ingrediants. And thus cannot be called agricultural produce.
Re: Tyre Industry
If the industry is in the agricultural sector as well as in tyre production in a vertial line,then the raw material obtained by the industry in the form of rubber sheets prepared from own plants,at the first stage it does not attract the provision of tax laws.But at the second stage,i.e.tyre production,tax laws are applicable.Reliance can be placed on the constitution bench judgment of the Hon'ble Supreme Court in"Synthetics And Chimicals Ltd.Vs.State of UP."
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