https://www.taxtmi.com/caselaws?id=424862 A restaurant dealer under the KVAT composition scheme does not lose composition benefit merely because it purchases refrigerators, freezers and similar items from outside the State for use as capital goods in the business. Goods acquired for use in the restaurant, and not for sale in the ordinary course of trade, are not stock-in-trade and cannot be treated as goods held in stock for denying composition relief. The reasoning follows the earlier restaurant-flooring principle that articles used in the business, rather than traded, do not breach composition conditions. On that basis, the assessment-based denial of composition benefit was set aside and the dealer was entitled to retain the scheme benefit. en-us Thu, 30 Jun 2022 00:00:00 +0530 Mon, 11 Jul 2022 08:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424862 A restaurant dealer under the KVAT composition scheme does not lose composition benefit merely because it purchases refrigerators, freezers and similar items from outside the State for use as capital goods in the business. Goods acquired for use in the restaurant, and not for sale in the ordinary course of trade, are not stock-in-trade and cannot be treated as goods held in stock for denying composition relief. The reasoning follows the earlier restaurant-flooring principle that articles used in the business, rather than traded, do not breach composition conditions. On that basis, the assessment-based denial of composition benefit was set aside and the dealer was entitled to retain the scheme benefit. Case-Laws VAT and Sales Tax Thu, 30 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424862