4% KVAT applicable on Iron and Steel used in construction of building

1. Both the learned counsel at bar submit that the controversy raised in the present revision petition filed by the Revenue under Section 65 of the Karnataka Value Added Tax Act, 2003, stands covered by the decision of the Hon’ble Supreme Court in the case of B. Narasamma Vs. The Deputy Commssioner, Commercial Taxes, Karnataka and Another, 2016 (86) Kar. L.J.229(SC), to the effect that the “Iron and Steel” purchased by the respondent – assessee and used in the execution of the civil works contracts of the construction of the buildings, remains “Iron and Steel̶...