https://www.taxtmi.com/caselaws?id=752562 The Uttarakhand HC dismissed the department's revision petition regarding classification of Nylon Chips under VAT Act. The court held that reassessment based on changed opinion about product nature was prohibited, not wrong rate application. The authorization notice dated 27.02.2017 was issued beyond the limitation period which expired on 30.09.2016. However, the reassessment order dated 25.03.2017 was within six years of Assessment Year 2010-11. The court affirmed that Nylon Chips, being cut into 2-4 millimeter granules, fall under Entry 83 of Schedule II(B) as plastic granules, supported by British Plastics Federation and CIPET opinions classifying Nylon as polyamide plastic group. en-us Mon, 06 May 2024 00:00:00 +0530 Tue, 14 May 2024 06:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752562 The Uttarakhand HC dismissed the department's revision petition regarding classification of Nylon Chips under VAT Act. The court held that reassessment based on changed opinion about product nature was prohibited, not wrong rate application. The authorization notice dated 27.02.2017 was issued beyond the limitation period which expired on 30.09.2016. However, the reassessment order dated 25.03.2017 was within six years of Assessment Year 2010-11. The court affirmed that Nylon Chips, being cut into 2-4 millimeter granules, fall under Entry 83 of Schedule II(B) as plastic granules, supported by British Plastics Federation and CIPET opinions classifying Nylon as polyamide plastic group. Case-Laws VAT and Sales Tax Mon, 06 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752562