Indirect tax rate adjustment: statutory percentage in the Finance Act increased, altering the applicable tax charge under section 5(1). The Finance Act, 1980 is amended by substituting the previous five per cent rate in section 5(1) with a higher rate, altering the statutory percentage used to calculate the specified indirect tax charge; the modification is effected by direct substitution of the rate expression in that subsection.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Indirect tax rate adjustment: statutory percentage in the Finance Act increased, altering the applicable tax charge under section 5(1).
The Finance Act, 1980 is amended by substituting the previous five per cent rate in section 5(1) with a higher rate, altering the statutory percentage used to calculate the specified indirect tax charge; the modification is effected by direct substitution of the rate expression in that subsection.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.