https://www.taxtmi.com/caselaws?id=164503 Section 3E of the Tamil Nadu General Sales Tax Act grants compounded taxation where a dealer's total turnover remains within the prescribed limit. The Ninth Schedule excludes specified bullion transactions, the last purchase of worn-out and beaten jewellery, and certain bullion purchases from turnover calculations. Jewellery acquired in a bank auction, converted into new jewellery and sold in a first sale, does not fall within the exclusion for worn-out and beaten jewellery. Excluding that auction purchase turnover may preserve eligibility for compounded taxation where the resulting turnover is below the statutory limit. Concurrent factual findings on the nature of the goods remain material unless perverse or unsupported by evidence. en-us Thu, 18 Feb 2010 00:00:00 +0530 Wed, 15 Oct 2014 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=164503 Section 3E of the Tamil Nadu General Sales Tax Act grants compounded taxation where a dealer's total turnover remains within the prescribed limit. The Ninth Schedule excludes specified bullion transactions, the last purchase of worn-out and beaten jewellery, and certain bullion purchases from turnover calculations. Jewellery acquired in a bank auction, converted into new jewellery and sold in a first sale, does not fall within the exclusion for worn-out and beaten jewellery. Excluding that auction purchase turnover may preserve eligibility for compounded taxation where the resulting turnover is below the statutory limit. Concurrent factual findings on the nature of the goods remain material unless perverse or unsupported by evidence. Case-Laws VAT and Sales Tax Thu, 18 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=164503