https://www.taxtmi.com/caselaws?id=753761 Goods dispatched to a foreign godown and later supplied to foreign buyers under firm purchase orders were treated as sale in the course of export under Section 5(1) of the CST Act, because the goods were earmarked for identified overseas purchasers and no time limit can be read into the statute to reclassify the transaction as stock transfer. The apportionment method for input tax under Section 17 and Rules 131-132 of the KVAT Rules was confined to the yearly statutory cycle, so a special method beyond the year was not permitted. The used-car concession under the notification was available in principle, subject to verification of its conditions. Penalty was linked to the reassessed tax base and had to be recomputed accordingly. en-us Fri, 19 Apr 2024 00:00:00 +0530 Mon, 10 Jun 2024 07:44:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753761 Goods dispatched to a foreign godown and later supplied to foreign buyers under firm purchase orders were treated as sale in the course of export under Section 5(1) of the CST Act, because the goods were earmarked for identified overseas purchasers and no time limit can be read into the statute to reclassify the transaction as stock transfer. The apportionment method for input tax under Section 17 and Rules 131-132 of the KVAT Rules was confined to the yearly statutory cycle, so a special method beyond the year was not permitted. The used-car concession under the notification was available in principle, subject to verification of its conditions. Penalty was linked to the reassessed tax base and had to be recomputed accordingly. Case-Laws VAT and Sales Tax Fri, 19 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753761