Highlights of Issue dated 9.3.2016 of Vol. 25 of "JKJAIN'S VAT REPORTER" from the House of J.K.Jain's (Since 2004)

VOL.25: PART-4 : SUPREME COURT CASES

State of Punjab & Ors. v. Shreyans Indus Ltd. Etc. (SC) (2016) 25 J.K.JAIN’S VAT REPORTER 111

AssessmentScope of powers of Commissioner for extending limitation period for completing the assessments

Electro Optics (P) Ltd. v. State of Tamil Nadu (2016) 25 J.K.JAIN’S VAT REPORTER 119

PenaltyClassification disputeBona fide belief as to chargeability of goods at a particular rate by the appellant will not make the return to be a false/incorrect return. 

PenaltyDiscretion to levy penaltyTo be exercised judiciallyWhere the breach flows from a bona fide belief 

Classification of the goodsElectronic Survey Instruments