1998 (9) TMI 529 - SCH - VAT and Sales Tax

Whether the Board of Revenue was justified in holding that soyabean is covered under the terms and is included in entry No.1 of Part V of Schedule II to the Act and is liable to tax at the rate of 3 per cent specially when it is covered under clause (iv) of entry No. (vi) of section 14 of the Central Sales Tax Act? Held that - Appeal allowed. Soyabeans are oil-seeds and are specifically covered by entry 4, Part IV of Schedule II to the M.P. General Sales Tax Act and must be taxed accordingly. The answer to question is, therefore, answered in the negative and in favour of the Revenue.

Summary

The Supreme Court of India allowed the appeal, holding that soyabean is covered under entry 4 of Schedule II and liable to tax at 3 per cent. The High Court's decision in favor of the assessee was overturned.