MARVEL VINYLS LTD. Vs. STATE OF M.P.

JUDGEMENT

(1.) Heard. The petitioner has filed this petition assailing the order dated December 21, 2010 passed by the revisional authority.

(2.) The petitioner is a public limited company incorporated under the Companies Act. It was granted exemption in accordance with the tax exemption policy of the Government dated October 6, 1994 in regard to payment of tax under the Madhya Pradesh General Sales Tax Act, 1958 and Central Sales Tax Act, 1956. Relevant clause of the exemption granted to the petitioner is as under:

(3.) Earlier the petitioner had been assessed and he was given benefit in regard to payment of CST on certain inter-State transactions, but subsequently, it was found that the petitioner made the aforesaid inter-State transactions without submitting C form hence, he was not entitled to the benefit in accordance with the amendment dated May 13, 2002 made in section 8(5) of the Central Sales Tax Act. A circular was also issued on June 10, 2008 in this regard. Hence, the case of the petitioner was reopened, notice was issued and tax to the tune of Rs. 34,86,955 has been imposed upon him vide impugned order, annexure P/1.