TMI Blog2016 (4) TMI 829X X X X Extracts X X X X X X X X Extracts X X X X ..... % - Held that:- by following the judgment of this court in the case of State of Karnataka vs. Reddy Structures Pvt. Ltd., Bangalore [2012 (10) TMI 1088 - KARNATAKA HIGH COURT], the State Legislature has no competence to levy tax at more than 5% on iron and steel used in the same form in the execution of works contract which falls under Section 14 of the CST Act. - Decided partly in favour of petit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d April 2013 to March 2014 and the returns have been deemed to be accepted as per Section 38 of the VAT Act. It is stated that as per the assignment note issued by the Commissioner of Commercial Taxes, the respondent has issued notice in VAT - 275 for production of books of account for reassessment proceedings. In response to the notice, the petitioner s authorized person appeared and produced Aud ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sale of assets and other income as the said transactions pertains to Chennai office and proposals to levy tax in this regard has been dropped. The respondent however had not taken into consideration the objections in respect of levy of tax on iron and steel used as it is in the execution of works contract at the rate of 5%, as the iron and steel are declared commodities liable to be taxed at the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T Act itself, that in respect of declared goods involved in the execution of works contract, the rate of tax shall be as provided in Section 14 of the CST Act at rate of four per cent. 5. The Division Bench of this Court had confirmed the view of the Single Judge as per judgment dated 10.12.2013 in the case of State of Karnataka vs. Reddy Structures Pvt. Ltd., Bangalore (2014 (80) Kar.L.J.-15 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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