https://www.taxtmi.com/caselaws?id=158426 Subsidy paid by the Government to fertilizer manufacturers was held not to form part of "turnover" under section 2(i) of the U.P. Sales Tax Act, 1948. The court reasoned that turnover covers the price paid by the purchaser in a bilateral sale transaction, whereas the government subsidy was not consideration from the buyer but support intended to keep fertilizer prices reasonable and ensure a fair return to manufacturers. The phrase "aggregate amount" in the Act was held not to alter this position, as it conveyed the same sense as the earlier statutory expression. The subsidy was therefore outside the sales tax net. en-us Tue, 16 Jan 1996 00:00:00 +0530 Mon, 28 Oct 2013 14:59:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158426 Subsidy paid by the Government to fertilizer manufacturers was held not to form part of "turnover" under section 2(i) of the U.P. Sales Tax Act, 1948. The court reasoned that turnover covers the price paid by the purchaser in a bilateral sale transaction, whereas the government subsidy was not consideration from the buyer but support intended to keep fertilizer prices reasonable and ensure a fair return to manufacturers. The phrase "aggregate amount" in the Act was held not to alter this position, as it conveyed the same sense as the earlier statutory expression. The subsidy was therefore outside the sales tax net. Case-Laws VAT and Sales Tax Tue, 16 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158426