https://www.taxtmi.com/caselaws?id=751774 Reassessment under Section 29(4) of the Uttarakhand Value Added Tax Act was treated as valid because it was initiated and completed within the six-year outer limit, and the statute permitted reassessment within that period notwithstanding a change of opinion. The classification issue turned on the essential character of Nylon Chips after compounding: the addition of fillers and additives did not alter their identity as plastic material. On that basis, the product was held to fall within Entry 83 of Schedule II(B) as plastic granules, so the higher unclassified rate did not apply. The note concludes that the reassessment was within time and the product remained classifiable under the specified entry. en-us Mon, 08 Apr 2024 00:00:00 +0530 Thu, 25 Apr 2024 06:34:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751774 Reassessment under Section 29(4) of the Uttarakhand Value Added Tax Act was treated as valid because it was initiated and completed within the six-year outer limit, and the statute permitted reassessment within that period notwithstanding a change of opinion. The classification issue turned on the essential character of Nylon Chips after compounding: the addition of fillers and additives did not alter their identity as plastic material. On that basis, the product was held to fall within Entry 83 of Schedule II(B) as plastic granules, so the higher unclassified rate did not apply. The note concludes that the reassessment was within time and the product remained classifiable under the specified entry. Case-Laws VAT and Sales Tax Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751774