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VAT - Highlights / Catch Notes

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Liability of tax - transfer of stock was not backed by any ...


High Court Confirms Tax Liability on Stock Transfers Without Form-F; Non-Submission Leads to Presumption of Sale.

March 23, 2017

Case Laws     VAT and Sales Tax     HC

Liability of tax - transfer of stock was not backed by any Form-F - Once a statutory presumption is drawn regarding sale in the absence of Form-F, and the assessee has not been able to put forth any material, which may have been responsible for non-submission of Form-F, demand of tax is to be confirmed - HC

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