Home Case Index All Cases VAT and Sales Tax VAT and Sales Tax + HC VAT and Sales Tax - 2016 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (11) TMI 495 - MADRAS HIGH COURTConcessional rate of VAT @4% subject to turnover limit of ₹ 300 crores - imported peas - whether the threshold limit of ₹ 300 crores is to be restricted to the turnover of Peas and Peas dhall or should be taken on the basis of the overall turnover of the petitioner? - Held that: - in terms of Entry 68, the sale of Peas and grams which have been listed out under the said Entry which are twelve in number, the threshold limit is ₹ 500 crores in a year. Therefore, looking at the case from both the angles, the impugned assessment order made by the respondent, stating that the petitioner has exceeded the threshold limit of ₹ 300 crores limit is not sustainable in law. - petition allowed - decided in favor of petitioner.,
|