STATE OF KERALA vs M/S.VATTUKALAM CHEMICALS INDS

The Supreme Court interpreted the exemption notification under the Kerala General Sales Tax Act, 1963, specifically SRO 499/90, which applies only to goods taxable at the point of last purchase in the State. The Court held that copper scrap, not being taxable at that point, does not qualify for the exemption. The judgment emphasized that the exemption must be strictly interpreted, and the High Court's failure to recognize this led to an erroneous conclusion regarding the applicability of the exemption to the respondent's purchase of copper scrap.