https://www.taxtmi.com/caselaws?id=165094 Minted gold coins and medallions sold by the assessee were held not to be bullion under the Second Schedule to the Kerala Value Added Tax Act, 2003, because they were finished products and not shown to be raw material for ornaments. Applying the specific entry for semi-finished gold articles in entry 4(4) of the Third Schedule, the Court held that the residuary rate could not apply. Tax was therefore to be charged at 4 per cent under the specific schedule entry rather than at the higher residuary rate, with the classification issue decided in favour of the assessee to that extent. en-us Tue, 10 Aug 2010 00:00:00 +0530 Thu, 08 May 2014 17:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165094 Minted gold coins and medallions sold by the assessee were held not to be bullion under the Second Schedule to the Kerala Value Added Tax Act, 2003, because they were finished products and not shown to be raw material for ornaments. Applying the specific entry for semi-finished gold articles in entry 4(4) of the Third Schedule, the Court held that the residuary rate could not apply. Tax was therefore to be charged at 4 per cent under the specific schedule entry rather than at the higher residuary rate, with the classification issue decided in favour of the assessee to that extent. Case-Laws VAT and Sales Tax Tue, 10 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165094