TaxTMI 
TaxTMI 
2024 (7) TMI 298
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..... The petitioner is engaged in the import and sale of Pincoda Timber, which is imported from the Far East through Ports at Tuticorin or Mangalore or Kochi. According to the petitioner, depending on the requirements at the Branch at Pollachi or at the Head Office at Feroke, such imported timber is transported to Pollachi or Feroke from the ports of arrival. During the year 2009-2010, the petitioner had effected stock-transfer of certain timber from Feroke to Pollachi. The value of the stock, so transferred by way of stock-transfer, was Rs. 39,24,347/-. In a notice issued to the petitioner under Section 25 (1) of the KVAT Act, it was indicated that, in respect of the stock, which was transferred from Feroke to Pollachi, the petitioner would b....
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....ransfer of the said goods to the Branch Office of the petitioner at Pollachi, there cannot be a retention of 4% of the tax paid as advance tax, relying on the provisions contained in Section 13 of the KVAT Act. The learned counsel would submit that Section 13 of the KVAT Act deals with input tax credit, and the definition of input tax credit in Section 2 (xxiii) of the KVAT would indicate that advance tax paid in terms of the provisions contained in the Circular cannot be classified as input tax. 3. The learned Senior Government Pleader appearing for the respondents would attempt to justify the denial of credit in the manner set out in Ext. P3 by referring to the provisions contained in Section 13 of the KVAT Act. The learned Senior Govern....
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....h Stones, Kotta Stones, any other similar stones and slabs 12.50% 7 Readymix Concrete 12.50% 8 Generator whether assembled or not 12.50% 9 Timber 12.50% 10 Live Chicken and Chicken Meat 12.50% 11 Petroleum Products other than LPG, 12.50% 12 Bitumen 4% While estimating the sale value, guidelines already circulated for valuation of items such as Chicken, Timber, etc. shall be followed. The dealers who pay advance tax as detailed above can adjust the said amount against the output tax due for the month while filing return for the respective return period. These orders shall take immediate effect. Commissioner." A reading of the Circular will clearly indicate that the Circular was intended to ensure that ther....
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....acking materials for such goods and such manufactured goods are sold in the course of export; or (b) used or consumed in the manufacture of taxable goods or used as containers or as packing materials of such goods manufactured and such manufactured goods are sent outside the State either by way of sale in the course of inter- State trade or commerce or otherwise; or (v) used as Capital goods; the input tax paid on such goods shall be refunded to the person making such sales in the course of export or in the course of inter-State trade or commerce or sending such goods to outside the State, as the case may be, in such manner and subject to such conditions as may be prescribed: Provided that the dealer claiming such refund shall not ....