https://www.taxtmi.com/caselaws?id=158282 Amounts received by a refinery from the pool account under a government oil pricing scheme were not part of the sale price or taxable turnover for sales tax purposes. The statutory definitions covered only the money consideration paid by the purchaser for taxable goods, while the pool account payment operated as an adjustment to compensate the refinery for loss caused by controlled pricing and a retention price higher than the fixed sale price. Applying the distinction between sale consideration and compensatory receipt, the court held that such payment could not be included in turnover, and the assessment and revisional orders taxing that amount were without jurisdiction. en-us Fri, 08 Mar 1996 00:00:00 +0530 Sat, 19 Oct 2013 16:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158282 Amounts received by a refinery from the pool account under a government oil pricing scheme were not part of the sale price or taxable turnover for sales tax purposes. The statutory definitions covered only the money consideration paid by the purchaser for taxable goods, while the pool account payment operated as an adjustment to compensate the refinery for loss caused by controlled pricing and a retention price higher than the fixed sale price. Applying the distinction between sale consideration and compensatory receipt, the court held that such payment could not be included in turnover, and the assessment and revisional orders taxing that amount were without jurisdiction. Case-Laws VAT and Sales Tax Fri, 08 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158282