https://www.taxtmi.com/caselaws?id=151031 A dealer's receipt described in the bill as a sales tax deposit, supported by a letter of indemnity and later refunded, was treated as a contingent deposit rather than tax collection. Because the amount was intended to secure liability in the event of retrospective tax legislation, it did not amount to sales tax collected on the sale. The Madras HC noted that the relevant exemption notification applied where no tax had been collected during the specified period. On those facts, the dealer satisfied the notification condition and remained entitled to exemption under the Pondicherry General Sales Tax Act. en-us Mon, 17 Mar 1975 00:00:00 +0530 Mon, 27 May 2013 17:20:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151031 A dealer's receipt described in the bill as a sales tax deposit, supported by a letter of indemnity and later refunded, was treated as a contingent deposit rather than tax collection. Because the amount was intended to secure liability in the event of retrospective tax legislation, it did not amount to sales tax collected on the sale. The Madras HC noted that the relevant exemption notification applied where no tax had been collected during the specified period. On those facts, the dealer satisfied the notification condition and remained entitled to exemption under the Pondicherry General Sales Tax Act. Case-Laws VAT and Sales Tax Mon, 17 Mar 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151031