Supreme Court: GPF Nomination in Favour of a Parent Becomes Invalid Once the Employee Marries  ||  Supreme Court: Candidate Not Disqualified if Core Subject Studied Without Exact Degree Title  ||  Supreme Court: Stamp Duty Relief for Co-Operative Societies Cannot Depend on Extra-Legal Verification  ||  Delhi High Court: Allegations of Forgery Alone Do not Bar NCLT From Examining Company Records  ||  J&K&L HC: Only Revenue Authorities Can Handle Agrarian Resumption; Civil Courts Cannot Intervene  ||  Delhi HC: CAPF Candidate's Height of 164.6 Cm Can be Rounded to 165 Cm; Rejection Prima Facie Illegal  ||  NCLT Mumbai: Bank Cannot Retain OTS Earnest Money After Accepting a Resolution Plan  ||  Supreme Court: Imminent Death Not Required For a Statement to Qualify as Dying Declaration  ||  SC: HC Cannot Grant Pre-Arrest Bail Without Quashing FIR; Accused Must Approach Sessions Court First  ||  SC: Agreed Interest Rate Cannot Be Challenged as Exorbitant; Arbitrator Cannot Override Contract    

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