2021 (12) TMI 149

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....y registered under the Gujarat Value Added Tax Act, 2003 ('the VAT Act' hereinafter) and Central Sales Tax Act, 1956 ('the CST Act' hereinafter). The petitioners admitted tax liability on local sales of stainless steel wires as well as the inter-State sales not supported by 'C' forms at the rate of 4% + 1% additional tax by bearing in mind the same is covered by Entry No.85 of Schedule II of the VAT Act. 2. In audit assessment dispute was raised about the classification of stainless steel wires sold by the petitioners. The assessment was initiated by the Assessing Officer under Section 34 of the VAT Act and a show cause notice has been issued on 12.02.2021 proposing to impose the tax at the rate of 12.5% + 2.5% additional tax by treating....

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.... of this petition as the limited prayer which presently the petitioners are seeking protection as their application for stay of the proceeding cannot be adjudicated by the authority concerned. 8. We have heard the learned advocate, Mr.Uchit Sheth and learned AGP, Ms.Maithili Mehta. 9. According to the learned advocate, Mr.Uchit Sheth, the issue of residuary entry has not been finally adjudicated by the Tribunal and at the time of deciding the aspect of the pre-deposits in the year 2016-2017 and 2017-2018 the Tribunal remanded the matter back to the concerned authority on 07.10.2020 and this issue on merit is also pending before it. The petitioners, therefore, are hopeful of making a request for the similar stand to be taken by the Tri....