https://www.taxtmi.com/caselaws?id=244221 Tax credit under section 11(3)(b) of the Gujarat Value Added Tax Act, 2003 is reduced only once where the same goods fall within more than one of the specified sub-clauses. The provision uses the disjunctive "or" and, read as a whole, indicates a single reduction at the prescribed rate if the goods satisfy any qualifying description. The proviso confirms that the reduction cannot exceed the credit available, so repeated reductions for the same goods would distort the statutory scheme. The credit reduction therefore applies once, not cumulatively, even if multiple sub-clauses are attracted. en-us Fri, 18 Jan 2013 00:00:00 +0530 Thu, 31 Jul 2014 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244221 Tax credit under section 11(3)(b) of the Gujarat Value Added Tax Act, 2003 is reduced only once where the same goods fall within more than one of the specified sub-clauses. The provision uses the disjunctive "or" and, read as a whole, indicates a single reduction at the prescribed rate if the goods satisfy any qualifying description. The proviso confirms that the reduction cannot exceed the credit available, so repeated reductions for the same goods would distort the statutory scheme. The credit reduction therefore applies once, not cumulatively, even if multiple sub-clauses are attracted. Case-Laws VAT and Sales Tax Fri, 18 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244221