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2008 (4) TMI 484 - SC - VAT and Sales TaxWhether the advance towards State advised price cannot be subjected to tax even though the other incentive subsidies were to be treated as part of purchase price? - Held that:- Appeal allowed. Appellants were justified in demanding purchase tax on the amount paid as SAP and the High Court's view is clearly unsustainable and is set aside. The observations relating to the agreed price which is above the lowest permissible rate cannot be read to mean that any ceiling is fixed by the agreed price. In the price fixed under the Control Order was the minimum price and it was the lowest permissible rate. The highest amongst the three prices relatable to the purchase is the price on the basis of which the purchase tax is to be levied.
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