ICAI positions this edition as a benchmark reference for chartered accountants, tax practitioners, and corporates to prepare for compliance once amendments are notified.

The court confirmed that banks are eligible to avail CENVAT credit on the Service Tax paid on premiums to the Deposit Insurance and Credit Guarantee Corporation (DICGC).

The Court dismissed the appeal, ruling that the bags could not be classified as textiles under Section XI of the tariff schedule, thereby affirming their classification as plastic goods.