Transaction value inclusion: sales tax retained under incentive schemes treated as part of assessable value. Under the transaction value regime, amounts of sales tax charged to the buyer but retained by the seller under an abatement/incentive scheme are not excludible from the transaction value unless actually paid to the State; such retained amounts must be included in the assessable value, and assessing officers and trade should be informed for finalisation of similar cases.
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.
Transaction value inclusion: sales tax retained under incentive schemes treated as part of assessable value.
Under the transaction value regime, amounts of sales tax charged to the buyer but retained by the seller under an abatement/incentive scheme are not excludible from the transaction value unless actually paid to the State; such retained amounts must be included in the assessable value, and assessing officers and trade should be informed for finalisation of similar cases.
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