Supreme Court: Single Insolvency Petition Maintainable Against Linked Corporate Entities  ||  Supreme Court: Disputes are Not Arbitrable When the Arbitration Agreement is Alleged to be Forged  ||  Supreme Court: Temple Trust Does Not Qualify as an ‘Industry’ under the Industrial Disputes Act  ||  Delhi HC: Unmarried Granddaughter’s Limited Estate Can Become Absolute if Pre-Existing Right  ||  MP High Court: Labour Laws are Beneficial, and Hyper-Technical Limitation Views Must be Avoided  ||  Calcutta HC: Supplementary Chargesheet Filed Late in NDPS Trial is Valid if Based on Fresh Evidence  ||  Delhi High Court: Co-Accused’s Abscondence Can Be a Relevant Factor in Granting NDPS Bail  ||  P &H HC: Unfavourable Orders Cannot Justify Trial Transfer; Courts Must Prevent Forum Hunting  ||  SC: UGC Regulations Override State Law on Forming Search Committees For University VC Appointments  ||  SC: State Cannot Deny Regularisation to Long-Serving Contract Staff Appointed Through Due Process    

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 2026 - All Rights Reserved