Why is Parachute coconut oil not a hair oil?
@factkeeps
We all think that our parachute oil is hair oil, but the company doesn't show it as hair oil.
@factkeeps
As per the Central Excise Tariff Act 1985, hair oil is liable to pay an 8% excise duty but edible oil is free from excise duty.
@factkeeps
Marico the maker of parachute oil said that they are selling edible oil, not hair oil.
@factkeeps
After surveying tax authorities said that customers use parachute as hair oil.
@factkeeps
Marico said that this is not their issue, what customers did with the product. Their oil is edible and pure.
@factkeeps
The Tribunal gives the decision in favor of Marico.
This is a fine example of saving tax.