effect of Supreme court judgement in bansal steel

[Dharmnath Avhad]

sir

Hon. Supreme court in the case of bansal steel held that stainless steel wire is not covered by section 14 of the central sales tax act .Therefore it will not declaredgoods to get covered under section 15 of the central sales tax act.Whether dealers shall wait for executive clarifications from central/state government or start collecting full rate of tax as general goods. I am surpised that nobody  is discussing this serious issue.

thanks

regards

adv. d b avhad

AI Summary

Tax classification of stainless steel wire: reclassified outside Iron and Steel and treated as general taxable goods under VAT guidance.
Supreme Court held stainless steel wire is not within the definition of Iron and Steel under section 14(iv) of the Central Sales Tax Act, removing it from that CST entry. The Delhi VAT policy branch issued a circular directing that the Court's ratio and an earlier VAT determination treating wire products as unscheduled goods be applied in assessing taxability of stainless steel wire, providing administrative guidance to departmental officers and dealers.