Raw Materials - Law Dictionary Search Results

treatment applying it to something. It is refining, development, preparation or converting of material especially that in a raw state into marketable form, Saraswati Sugar Mills v. Haryana State Board, AIR 1992 SC 224: 1992 (1) SCC … parlance 'processing' is understood as an action which brings forth some change or alteration of the goods or material which is subjected to the act of processing. 'What is necessary in order to characterise an operation as

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Manufacture

'manufacturing process' is that as a result of undergoing the process a distinct commercial commodity different from the raw materials comes into existence, Municipal Council v. M/s. Vraj Lal Manilal & Co., AIR 1982 SC 844: (1982) 1

Manufacturing purposes

'to work up materials into forms suitable for us'. The word 'material' does not necessarily mean the original raw material, for a finished articles may have to go through several manufacturing processes before it is fit and

Goods

of sale, [The Gujarat Value Added Tax Act, 2003, s. 2(13)] Goods, Notification No. 123/81-CE exempted capital goods, raw materials, components, consumables etc. Compendiously known as 'goods' from pay-ment of basis excise duty and additional excise duty subject … cannot be ignored. The words 'capital assets' are very wide. The include all types of properties including consumables, raw materials, components etc. However, capital assets become capital goods when used in the manufacture of products. Every capital assets

Consummation

AIR 1961 SC 213 (217): (1961) 1 SCR 709. A manufacturer also consumes commodities which are ordinarily called raw materials when he produces semi-finished good which have to undergo further processes of production before they can be transformed … every such intermediate stage of production, some utility or value is added to goods which are used as raw materials and at every such stage the raw materials are consumed, State of Karnataka v. B. Raghurama Sheety, (1981)

Consumption and use

In the manufacture of goods

In the manufacture of goods would normally encompass the entire process carried on by the dealer of converting raw materials into finished goods. Where any particular process is so integrally connected with the ultimate production of goods that … 'in the manufacture of goods' should normally encompass the entire process carried on by the dealer of converting raw materials into finished goods. Where any particular process is so intergrally connected with the ultimate production of goods that

inventory

property leased or furnished, held for sale or lease, or to be furnished under a contract for service, raw materials, work in process, or materials used or consumed in a business or held for sale or lease b … be furnished under contracts of service or if he or she has so furnished them or that are raw materials, works in process, or materials used or consumed in a business

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Raw Materials - Law Dictionary Search Results

Raw material

Raw materials

Processing