https://www.taxtmi.com/caselaws?id=105714 The Supreme Court upheld the High Court's judgment regarding the levy of sales tax on the retention price fixed by the Oil Co-ordination Committee. It was held that the retention price, considered as compensation or subsidy, does not form part of the sale price and is therefore not subject to taxes. The Court found that the principles established in a previous case regarding subsidies not forming part of the sale price were applicable in this situation. Consequently, the civil appeals were dismissed, and no costs were awarded. en-us Thu, 07 Apr 2005 00:00:00 +0530 Wed, 07 Mar 2012 12:26:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105714 The Supreme Court upheld the High Court's judgment regarding the levy of sales tax on the retention price fixed by the Oil Co-ordination Committee. It was held that the retention price, considered as compensation or subsidy, does not form part of the sale price and is therefore not subject to taxes. The Court found that the principles established in a previous case regarding subsidies not forming part of the sale price were applicable in this situation. Consequently, the civil appeals were dismissed, and no costs were awarded. Case-Laws VAT and Sales Tax Thu, 07 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105714