https://www.taxtmi.com/caselaws?id=106095 State advised price paid by sugar factories for sugarcane formed part of the actual purchase consideration and was includible in the purchase price for purchase tax under the Karnataka Sales Tax Act, 1957. The Court treated the minimum price under the Sugarcane (Control) Order, 1966 as only a floor price and held that a higher State advised price actually paid for procurement could not be excluded merely because it arose from an advisory mechanism or was subject to later adjustment. Purchase tax therefore turned on the real price paid, not on a narrower contractual characterisation adopted by the assessee. en-us Tue, 08 Apr 2008 00:00:00 +0530 Tue, 06 Sep 2016 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106095 State advised price paid by sugar factories for sugarcane formed part of the actual purchase consideration and was includible in the purchase price for purchase tax under the Karnataka Sales Tax Act, 1957. The Court treated the minimum price under the Sugarcane (Control) Order, 1966 as only a floor price and held that a higher State advised price actually paid for procurement could not be excluded merely because it arose from an advisory mechanism or was subject to later adjustment. Purchase tax therefore turned on the real price paid, not on a narrower contractual characterisation adopted by the assessee. Case-Laws VAT and Sales Tax Tue, 08 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106095