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2017 (6) TMI 1005 - HC - VAT and Sales TaxScope of Sale - Whether the tender of an import licenses called REP licenses/Exim Scrips by the holder thereof after discontinuance of Import Export Policy since 1.3.1992 to the branches of the State Bank of India designated for the purpose at the instance of Reserve Bank of India for forwarding to the offices of the Joint Chief Controller of Imports and Exports on certain amount of premium proportionate to balance of C.I.F. value constitute a sale of goods within the meaning and for the purpose of Bombay Sales Tax and whether the amount of premium is exigible to sales tax? - Held that: - the issue is no longer res-integra and is decided in the case of Commercial Tax Officer & Others Versus State Bank of India & Another [2016 (11) TMI 416 - SUPREME COURT], where it was held that When the RBI acquires and seeks the return of replenishment licences or Exim scrips with the intention to cancel and destroy them, the replenishment licences or Exim scrips would not be treated as marketable commodity purchased by the grantor - appeal dismissed - decided in favor of assessee.
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