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Consult Construction

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2015-VIL-339-KAR

THE STATE OF KARNATAKA Vs M/s GOPALAN ENTERPRISES, (INDIA) LTD

Karnataka Value Added Tax Act, 2003 – Input Tax Credit – SEZ - Works contract and construction of buildings in SEZ - re-assessment – Revised return – Revision Order

HELD - The appellate Tribunal, after critical evaluation of the entire material allowed the appeals filed by the assessee-Company on the ground that as per Section 20(2) of the KVAT Act read with Rule 130-A(a) of the KVAT Rules, a developer of any Special Economic Zone is eligible for refund of tax paid on any inputs purchased for the purpose of development, operation or maintenance of the processing area in a SEZ. Nowhere in the order of the Revisional Authority or the re-assessment order dated 04-08-2010 passed by the Prescribed Authority for the impugned tax periods February 2009 and March 2009, there is any mention regarding the fact of allowing of input tax credit claims in relation to the processing area as distinguished from other areas of the SEZ - The matter has been rightly remanded back to the Prescribed Authority to pass fresh re-assessment order – Matter remanded

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