https://www.taxtmi.com/caselaws?id=269943 The Commissioner acted within statutory competence to issue a clarification on transaction character and tax liability under the Jammu and Kashmir General Sales Tax Act and Rules. However, for composite works contracts sold on a tax-inclusive basis, taxable turnover had to be computed by excluding the embedded tax element under the prescribed formula in Rule 19(d); taxing the gross contract value would disregard that method and create cascading. The clarification was therefore unsustainable and was set aside, with consequential reliefs for deduction and reimbursement of excess tax. en-us Fri, 29 May 2015 00:00:00 +0530 Fri, 25 Dec 2015 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269943 The Commissioner acted within statutory competence to issue a clarification on transaction character and tax liability under the Jammu and Kashmir General Sales Tax Act and Rules. However, for composite works contracts sold on a tax-inclusive basis, taxable turnover had to be computed by excluding the embedded tax element under the prescribed formula in Rule 19(d); taxing the gross contract value would disregard that method and create cascading. The clarification was therefore unsustainable and was set aside, with consequential reliefs for deduction and reimbursement of excess tax. Case-Laws VAT and Sales Tax Fri, 29 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269943