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2013 (10) TMI 1288 - HC - VAT and Sales TaxValuation - Whether the Tribunal is correct in finding that the value of free issue materials used in the manufacture of sleepers and included in the assessable value would form part of turnover of the manufacturer under section 2(1)(s) of the Act - Held that:- In the order of the Tribunal, the fact that by reference to clauses in the agreement, Tribunal had noticed that fastenings, malleable cast iron inserts and HTS wire (standard) were supplied to the petitioner free of cost. This aspect of the matter is not in dispute. Finally, the cost price that is being paid to the petitioner does not include the value of the free issue material, and it is also not in dispute that the petitioner had not collected any sales tax and the railways had not paid any amount on the value representing the free issue material. In that view of the matter, and in view of the law laid down by the Supreme Court, the sale price for the purpose of section 5 of the Act, is the actual consideration that is received/ receivable by the dealer alone can be the basis for levy of sales tax. - Decided in favour of assessee.
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