https://www.taxtmi.com/caselaws?id=163339 The court upheld the separate demand for tax on standard gold (bullion) in addition to the tax payable at a compound rate. It clarified that the payment of tax at a compound rate for jewellery does not cover tax liability on other goods like standard gold (bullion). The court excluded tax paid on standard gold (bullion) from the compound rate calculation and directed the assessing officer to modify the tax liability accordingly. The judgment also confirmed the demand for additional tax under section 5D but clarified that interest on tax payment cannot be demanded unless there is a default in payment. en-us Mon, 05 Jun 2006 00:00:00 +0530 Mon, 31 Mar 2014 17:26:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163339 The court upheld the separate demand for tax on standard gold (bullion) in addition to the tax payable at a compound rate. It clarified that the payment of tax at a compound rate for jewellery does not cover tax liability on other goods like standard gold (bullion). The court excluded tax paid on standard gold (bullion) from the compound rate calculation and directed the assessing officer to modify the tax liability accordingly. The judgment also confirmed the demand for additional tax under section 5D but clarified that interest on tax payment cannot be demanded unless there is a default in payment. Case-Laws VAT and Sales Tax Mon, 05 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163339