1986 (7) TMI 356 - SCH - VAT and Sales Tax

The purchase of shrimps prawns and lobsters made by the appellants for the purpose of fulfilling the existing contracts for export shall not be liable to be included in the taxable turnover of the appellants.

Summary

The Supreme Court allowed the appeals, set aside the High Court judgment, and ruled that purchases of shrimps, prawns, and lobsters for export contracts are not taxable turnover. The respondents must pay the costs of the appeals.