https://www.taxtmi.com/caselaws?id=159797 Banks' sale of pledged gold ornaments to realise outstanding loans is not treated as trading or business under the Kerala General Sales Tax Act. The article notes that such sales are incidental to banking activity and fall within the exception in Section 8 of the Banking Regulation Act, which permits disposal of pledged goods for realisation of security. On that basis, banks are not regarded as "dealers" engaged in the business of buying or selling goods, and sales tax is not attracted on the disposal of pledged ornaments. en-us Tue, 16 Dec 1997 00:00:00 +0530 Mon, 02 Dec 2013 13:07:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159797 Banks' sale of pledged gold ornaments to realise outstanding loans is not treated as trading or business under the Kerala General Sales Tax Act. The article notes that such sales are incidental to banking activity and fall within the exception in Section 8 of the Banking Regulation Act, which permits disposal of pledged goods for realisation of security. On that basis, banks are not regarded as "dealers" engaged in the business of buying or selling goods, and sales tax is not attracted on the disposal of pledged ornaments. Case-Laws VAT and Sales Tax Tue, 16 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159797