2006 (10) TMI 391

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..... sale of bullion to exporters for the years 1990-91 and 1991-92. The case of the petitioner is that the disputed quantity though delivered to exporters in the relevant year, was invoiced in the subsequent year after fixation of price. Therefore, according to the petitioner, sale of such quantity should be assessed in the succeeding year. However, the assessing officer estimated turnover in respect .....

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..... r section 2(xxi) of the Kerala General Sales Tax Act, 1963. In fact, the purchasers are exporters and on taking delivery of the goods from the petitioners, the exporters were free to manufacture ornaments from the bullion purchased and could export/sell the same. Therefore, delivery of goods is pursuant to contract of sale and all what is left is only finalisation of price and raising of final inv .....

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