OZONE PHARMACEUTICALS LTD. Vs. STATE OF ASSAM

JUDGEMENT

(1.) -Heard Mr. Ashok Saraf, learned Senior Counsel assisted by Mr. A. Goyal, learned counsel for the petitioner. Also heard Mr. M. Nath, learned Standing Counsel Finance & Taxation Department appearing for the State respondent Nos. 1 to 3.

(2.) The petitioner company, namely, Ozone Pharmaceuticals Limited, a Limited Company under the Company Act, 1956 having its registered office at New Delhi and a Drug License holder issued by the Drugs Controller of India under the Drugs and Cosmetics Act, 1940 is involved in manufacturing of medicines. It has set up its Industrial unit at EPIP Complex, Amingaon, Guwahati-31 in the district of Kamrup (Rural) and for the said purpose the petitioner company imports raw materials and other ancillaries including eligible and permissible chemicals and other ingredients like flavor, essence, maize starch, packing materials like corrugated box, caps, bottles etc. from the places outside the State of Assam for use in manufacture of medicine and for its sale, in the course of Intra-State as well as in the course of Inter-State Trade or commerce in the course of their said business.

(3.) As endorsed by the petitioner company during the year 2005-06 the petitioner Company imported 112 items of raw materials from outside the State amounting to Rs. 8,42,12,433.00 and further incurred transportation charges of Rs. 25,00,486.00 to bring those raw materials into its industrial unit. But the petitioner company while endorsing the said value excluded the inward freight, transit insurance etc.