In a major ruling that will have far-reaching implications for the indirect tax jurisprudence landscape, the Supreme Court of India has held that Rooh Afza is a “fruit drink” under the applicable VAT laws. This means that the popular drink is liable to be taxed at a concessional rate of 4% VAT, as opposed to a higher rate of taxation….

What is the International Organization for Standardization? The International Organization for Standardization (ISO) is an independent, non-governmental international body that develops global standards to ensure quality, safety, efficiency, and consistency across industries. Founded in 1947, ISO operates in over 160 countries and publishes international standards that help businesses improve performance and build global trust. What Does ISO Do? ISO develops…