https://www.taxtmi.com/caselaws?id=239593 For exemption under Section 4-A and the governing notification, base production is determined with reference to production capacity and the prior maximum production, and the exemption operates only on turnover beyond that base quantity. Stock transfer and consignment transactions do not amount to sales, so they are included in base production rather than excluded from it. The assessment order was therefore required to be modified to reflect that legal position, with stock transfers and consignments counted in the base production computation for units undertaking expansion, diversification or modernisation. en-us Wed, 13 Nov 2013 00:00:00 +0530 Fri, 24 Jul 2015 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239593 For exemption under Section 4-A and the governing notification, base production is determined with reference to production capacity and the prior maximum production, and the exemption operates only on turnover beyond that base quantity. Stock transfer and consignment transactions do not amount to sales, so they are included in base production rather than excluded from it. The assessment order was therefore required to be modified to reflect that legal position, with stock transfers and consignments counted in the base production computation for units undertaking expansion, diversification or modernisation. Case-Laws VAT and Sales Tax Wed, 13 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239593