Calcutta HC: Award May Be Set Aside if Tribunal Rewrites Contract or Ignores Key Clauses  ||  Delhi HC Suspends Kuldeep Singh Sengar’s Life Term, Holding Section 5(C) of POCSO Not Made Out  ||  Calcutta High Court: Arbitration Clause in an Expired Lease Cannot be Invoked For a Fresh Lease  ||  Delhi High Court: 120-Day Timeline under Section 132B Of Income Tax Act is Not Mandatory  ||  NCLAT Reaffirms That Borrower's Debt Acknowledgment Also Extends Limitation Period for Guarantors  ||  NCLAT: Oppression & Mismanagement Petition Cannot Be Filed Without Company Membership on Filing Date  ||  Supreme Court Quashes Rajasthan Village Renaming, Says Government Must Follow its Own Policy  ||  NCLAT: NCLT Can Order Forensic Audit on its Own, No Separate Application Required  ||  NCLAT Reiterates That IBC Cannot be Invoked as a Recovery Tool for Contractual Disputes  ||  Delhi HC: DRI or Central Revenues Control Lab Presence in Delhi Alone Does Not Confer Jurisdiction    

Supreme Court: Definition of ‘Purchase Price’ Doesn’t Include Value Added Tax - (03 Aug 2024)

SALES TAX/VAT

SC has held that purchase price would be the amount of valuable consideration paid or payable for any purchase which would include amount of duties. The intention of legislature was to exclude VAT from ambit of purchase price as the same is not found in categories of enumerated tax/duties.

Tags : SUPREME COURT   PURCHASE PRICE   VALUE ADDED TAX  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved