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Friday 24 June 2016

Shoddy Yarn exempted from advance tax retrospectively i.e. 01-04-2016 by virtue of Notification dated 06-06-2016. Earlier vide Notification dated 31-03-2016, shoddy and worsted yarn were brought under advance tax w.e.f. 01-04-2016, out of which shoddy yarn again stands exempted from 01-04-2016 to the much respite of blanket manufacturers using shoddy yarn, who shall not now require any registration with department to claim exemption.


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