1971 (4) TMI 82 - HC - VAT and Sales Tax

Summary

The Kerala High Court allowed the petition of a firm dealing in nylon yarn, holding that nylon yarn is considered artificial silk yarn and is exempt from sales tax except at the point of first sale in the state, at a reduced rate of 2 per cent. The decision was based on a government notification and a previous court ruling. The turnover of nylon yarn for the assessment year 1966-67 was to be assessed at the reduced rate.