ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Capital Investment Bonds- An Open-ended Concession

about by the CST Act did not affect their powers to tax commodities derived from other entries in the state list of the Constitution, e g. Entry 52 authorising the levy of taxes on the entry of goods into a local area for consumption, use or sale therein. Octroi levied by virtue of this entry was never touched by the. CST Act and therefore, it is argued, there should be no objection to the use of these powers in any other form such as entry tax even if that violates the spirit of the restraint implicit in the CST Act and the agreement to forgo sales taxation of textile, tobacco and sugar.

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