Statutory refund interest requires correction of short computation and compensation where admitted interest remains unpaid through administrative dela...
Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
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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 Section 14 of the Gujarat Value Added Tax Act, 2003. VAT is payable on the taxable turnover, with an option for lump sum tax u/s 3 read with Section 14. The issue pertains to whether the 'service tax' component collected by the petitioner should be included in the 'sale price' for VAT calculation. Referring to the Ambuja Cement Ltd. case, the Court held that the definition of 'sale price' u/s 2(24) is inclusive, not exhaustive. However, the intention is to include only specified duties/taxes like excise/customs, not service tax. Therefore, the petitioner is not liable to include the 'service tax' component in the 'sale price' for VAT computation. The orders setting aside composition tax permission solely on this ground are quashed, and the petitions are allowed.
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 Section 14 of the Gujarat Value Added Tax Act, 2003. VAT is payable on the taxable turnover, with an option for lump sum tax u/s 3 read with Section 14. The issue pertains to whether the 'service tax' component collected by the petitioner should be included in the 'sale price' for VAT calculation. Referring to the Ambuja Cement Ltd. case, the Court held that the definition of 'sale price' u/s 2(24) is inclusive, not exhaustive. However, the intention is to include only specified duties/taxes like excise/customs, not service tax. Therefore, the petitioner is not liable to include the 'service tax' component in the 'sale price' for VAT computation. The orders setting aside composition tax permission solely on this ground are quashed, and the petitions are allowed.
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