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2014 (1) TMI 100 - ALLAHABAD HIGH COURTTax on the turnover upto the level of base production - Section 4-A of the U.P. Trade Tax Act, on prescribed Form 46 under Rule 25 of the U.P. Trade Tax Rules - Non inclusion of stock transfer and consignment - Exemption on turnover of sales - Under Section 4-A of the Act and the notifications issued thereunder the benefit of exemption to the existing units, which have undergone expansion, diversification or modernisation is contemplated on the quantity of the goods in excess of the base production. The quantity of base production is determined only once on the consideration of the capacity of the production and maximum production of any one year of preceding five consecutive years. Such determined quantity of base production is the basis for the exemption for the period, for which the unit is entitled for exemption. The unit which has undergone expansion is thus entitled for the exemption on the turnover of the quantity in excess of the "quantity of base production" plus stock of the base production of the previous years - assessment/reassessment/penalty/deferment proceedings will be decided by the Assessing Authority in accordance with law laid down by the Full Bench - Following decision of Ambika Steels Pvt Ltd Vs. State of U.P. & others [2007 (9) TMI 541 - ALLAHABAD HIGH COURT].
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