https://www.taxtmi.com/caselaws?id=794560 Gold coins embossed with Goddess Lakshmi were held not to be bullion under the common parlance test, because bullion means gold in the mass, such as raw gold, bars or ingots, and not finished or manufactured goods. Once gold bars are converted into coins and given embossing or engraving, they undergo a manufacturing process and acquire value addition, taking them out of the bullion category. The coins were therefore classified as manufactured gold articles and taxed at the higher rate. The Tribunal's view treating them as bullion was incorrect, and the assessment classifying them as gold articles was restored. en-us Tue, 23 Jun 2026 00:00:00 +0530 Wed, 08 Jul 2026 09:08:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794560 Gold coins embossed with Goddess Lakshmi were held not to be bullion under the common parlance test, because bullion means gold in the mass, such as raw gold, bars or ingots, and not finished or manufactured goods. Once gold bars are converted into coins and given embossing or engraving, they undergo a manufacturing process and acquire value addition, taking them out of the bullion category. The coins were therefore classified as manufactured gold articles and taxed at the higher rate. The Tribunal's view treating them as bullion was incorrect, and the assessment classifying them as gold articles was restored. Case-Laws VAT / Sales Tax Tue, 23 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794560