https://www.taxtmi.com/caselaws?id=148253 The Court determined that the jeweler's turnover for the assessment year 1963-64 should be subject to a sales tax rate of 2% for all jewelry items due to the presence of precious or artificial stones in each item. It held that the higher tax rate specified in the Second Schedule did not apply as there was no direct sale of precious stones, emphasizing that the tax rate should be based on the nature of sales as determined by the tax authorities. The Court allowed the revision petition and directed the adjustment of the assessment accordingly. en-us Thu, 10 Aug 1967 00:00:00 +0530 Wed, 24 Apr 2013 16:06:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=148253 The Court determined that the jeweler's turnover for the assessment year 1963-64 should be subject to a sales tax rate of 2% for all jewelry items due to the presence of precious or artificial stones in each item. It held that the higher tax rate specified in the Second Schedule did not apply as there was no direct sale of precious stones, emphasizing that the tax rate should be based on the nature of sales as determined by the tax authorities. The Court allowed the revision petition and directed the adjustment of the assessment accordingly. Case-Laws VAT and Sales Tax Thu, 10 Aug 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=148253