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TMI Blog2020 (10) TMI 727X X X X Extracts X X X X X X X X Extracts X X X X ..... r relating to taxable goods upto ₹ 50 lakhs at 1% and for the sales turnover over and above ₹ 50 lakhs, he is liable to pay tax under Section 3(2). The aforesaid amendment came into effect from 01.04.2012 and a bare reading of the provision explicitly permits the dealer to pay tax at the compounded rate of 1% under Section 3(4) for the sales turnover below ₹ 50 lakhs and for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is heard through Video Conferencing on 03.09.2020. 2. The petitioner herein was originally assessed, on self assessment basis under Section 22(2) of the Tamil Nadu Value Added Tax Act 2006 (hereinafter referred to as 'TNVAT Act'), for the Assessment Year 2011-2012 for a turnover below ₹ 50 lakhs. On inspection, it is alleged that there was sales suppression and by taking into acco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ut of the purview of the benefit under Section 3(4) of the TNVAT Act and is liable to pay the regular tax for the entire turnover under Section 3(2) of the Act. 4. Section 3(4)(b) of the Tamil Nadu Value Added Tax, (Fourth Amendment) Act 2011, enables the dealer to pay tax for a year on his turnover relating to taxable goods upto ₹ 50 lakhs at 1% and for the sales turnover over and above ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s.Rajendran Timber and Plywood, Selaiyur, Chennai-600 073 Vs. The Assisstant Commissioner (CT), Selaiyur Assessment Circle, Chennai-600 073 in a decision dated 29.06.2016 taken in W.P.No.15889 of 2015. As such, the impugned proceedings which proceeds to levy tax on the entire sales turnover is not in conformity to Section 3(4) of the Act and is liable to be set aside. 6. For all the foregoing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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