https://www.taxtmi.com/caselaws?id=260008 The amended valuation mechanism under Rule 58 of the Maharashtra Value Added Tax Rules, including the stage-wise method in Rule 58(1B), the land-deduction formula in Rule 58(1A) and the clarificatory trade circulars, was treated as a valid measure and machinery provision for valuing the taxable component in works contracts. The Court held that a taxing rule may adopt a uniform and convenient computation method so long as it bears a rational nexus with the taxable event and does not change the subject of tax. The additional proviso allowing proof of higher actual land cost was also upheld, and the absence of previous publication did not vitiate the amendment because the requirement had been lawfully dispensed with in urgency. en-us Thu, 30 Apr 2015 00:00:00 +0530 Fri, 04 Mar 2016 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260008 The amended valuation mechanism under Rule 58 of the Maharashtra Value Added Tax Rules, including the stage-wise method in Rule 58(1B), the land-deduction formula in Rule 58(1A) and the clarificatory trade circulars, was treated as a valid measure and machinery provision for valuing the taxable component in works contracts. The Court held that a taxing rule may adopt a uniform and convenient computation method so long as it bears a rational nexus with the taxable event and does not change the subject of tax. The additional proviso allowing proof of higher actual land cost was also upheld, and the absence of previous publication did not vitiate the amendment because the requirement had been lawfully dispensed with in urgency. Case-Laws VAT and Sales Tax Thu, 30 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260008