Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
VAT - Highlights / Catch Notes

Home Highlights July 2015 Year 2015 This

Levy of sales tax / VAT on sale of REP licenses - .Whether the ...


High Court Rules Only Premium from REP License Sales is Taxable as Turnover, Not Total Sale Value.

July 16, 2015

Case Laws     VAT and Sales Tax     HC

Levy of sales tax / VAT on sale of REP licenses - .Whether the Hon'ble Tribunal is correct in holding that the income received by way of premium on sale of REP licences alone is taxable as 'turnover' as against the aggregate amount for which the said goods were sold - Held yes - HC

View Source

 


 

You may also like:

  1. Valuation of imported goods - inclusion of licence fee in the invoice value - It can be seen that Rule 10 (1) (c) uses the words ‘as a condition of sale’. The...

  2. VAT - Sale of used cars - Not incidental or ancillary to the manufacture /sale of pharmaceutical products - value not to be included in the total turnover - HC

  3. Valuation - sale of Gypsum - mere bifurcation of the sale price of the goods in a mutual contract between the parties under a separate bargain or even a common bargain...

  4. Export turnover brought into India does not qualify as 75% of total turnover for claiming exemption u/s 10A. Expenditure incurred in foreign exchange must be excluded...

  5. Nature of activity - sale or service - The appellant procured COA/stickers/labels under a Microsoft OEM Customer License Agreement, affixing them to Thin Clients...

  6. GST Rates - HSN Code - Readymade garments of sale value not exceeding ₹ 1000 per piece attract 5% GST. Readymade garments of sale value exceeding ₹ 1000 per...

  7. Computation of gross profit - estimation and enhancement of turnover - As per tribunal opinion that the estimation of total sales without considering the actual...

  8. Addition to sales turnover - difference in the value of stock transfer(F-Form) and books of accounts - the authorities have not considered that suppression in the sale...

  9. The CESTAT held that a "deemed sale" under Article 366(29A)(d) of the Constitution had occurred when the appellant granted the right to use the brewery license to...

  10. Computation of exemption u/s 10B - exclusion of scrap sales from the total turnover as well as the export turnover while computing the exemption - Meaning given by the...

  11. Cash credit u/s 68 r.w.s. 115BBE - cash deposit during demonetization period - assessee's failure to maintain books of accounts u/s 44AD. Held that where exemption from...

  12. Undisclosed incomes - investment in Purchase/sale of immovable property - The onus on the department to prove that investment was made by Assessees or sale consideration...

  13. Bogus sale - allegation of unaccounted sale to the petrol pump owners/other industries - the sale price declared by the assessee was accepted by the sales tax department...

  14. The petitioner is required to calculate taxable turnover by excluding turnover not subjected to tax, exempt goods, and labor/service charges for works contracts as per...

  15. The case pertains to the applicability of Section 43CA, which deals with the adoption of stamp duty value as the full value of consideration for computing profits and...

 

Quick Updates:Latest Updates