https://www.taxtmi.com/caselaws?id=153013 The court held that the tax rate for goods should be based on the rate prevailing at the time of purchase, not at the time of disposal when they become the last purchase. Therefore, purchases before July 1, 1974, in T.R.C. No. 68 of 1980 were taxable at 3%, while those in T.R.C. No. 121 of 1980 were exempt from tax. The court clarified the concept of "last purchase" under the Sales Tax Act, emphasizing that the tax liability arises at the time of purchase, not at the event determining it as the last purchase. The court overruled a previous decision applying the rate at the time of the subsequent event. en-us Fri, 17 Jul 1981 00:00:00 +0530 Mon, 15 Jul 2013 17:46:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153013 The court held that the tax rate for goods should be based on the rate prevailing at the time of purchase, not at the time of disposal when they become the last purchase. Therefore, purchases before July 1, 1974, in T.R.C. No. 68 of 1980 were taxable at 3%, while those in T.R.C. No. 121 of 1980 were exempt from tax. The court clarified the concept of "last purchase" under the Sales Tax Act, emphasizing that the tax liability arises at the time of purchase, not at the event determining it as the last purchase. The court overruled a previous decision applying the rate at the time of the subsequent event. Case-Laws VAT and Sales Tax Fri, 17 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153013