Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2008 (5) TMI 43 - SC - VAT and Sales Tax
Levy of tax on sale of DEPB licence - REP licences – appellant contention that DEPB is different from REP, so even if sale of REP is taxable, we can’t say that sale of DEPB is also taxable, is not acceptable - held that DEPB has an intrinsic value that makes it a market commodity - Therefore, DEPB, like REP licence qualifies as `goods' and its sale is eligible to tax - lottery tickets are included in definition of ‘goods’ and, hence, the sale of lottery tickets are subject to sales tax