https://www.taxtmi.com/caselaws?id=255567 Later-inserted provisions under the Karnataka Value Added Tax framework could not be applied to assessment year 2005-06, because the charging provision for works contracts operated only from 01.04.2006 and the related civil works requirement under Section 29(4) and the rule came into force only from 01.04.2007. In works contract valuation, iron and steel transferred in the same form fell within the declared goods entry and were taxable at 4%. A blanket levy of 12.5% on the remaining turnover was unsustainable because no proper valuation of the individual materials was available; taxation had to be determined according to the applicable schedule rates for each class of goods. en-us Thu, 07 Aug 2014 00:00:00 +0530 Sat, 19 Sep 2015 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255567 Later-inserted provisions under the Karnataka Value Added Tax framework could not be applied to assessment year 2005-06, because the charging provision for works contracts operated only from 01.04.2006 and the related civil works requirement under Section 29(4) and the rule came into force only from 01.04.2007. In works contract valuation, iron and steel transferred in the same form fell within the declared goods entry and were taxable at 4%. A blanket levy of 12.5% on the remaining turnover was unsustainable because no proper valuation of the individual materials was available; taxation had to be determined according to the applicable schedule rates for each class of goods. Case-Laws VAT and Sales Tax Thu, 07 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255567