https://www.taxtmi.com/caselaws?id=162838 For sales tax purposes, the taxable purchase value of sugarcane depends on the actual consideration paid or payable on the facts found, not on a circular or subsidy label. The Karnataka High Court text notes that the authorities treated the alleged incentive payment as a post-purchase subsidy rather than a deductible element of purchase price, and applied the principle that the real transaction price governs tax computation. On that basis, the purchase price was determined at Rs. 390 per MT and upheld as the relevant tax base under the Karnataka Sales Tax Act, 1957. en-us Thu, 27 Jul 2006 00:00:00 +0530 Sat, 15 Mar 2014 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162838 For sales tax purposes, the taxable purchase value of sugarcane depends on the actual consideration paid or payable on the facts found, not on a circular or subsidy label. The Karnataka High Court text notes that the authorities treated the alleged incentive payment as a post-purchase subsidy rather than a deductible element of purchase price, and applied the principle that the real transaction price governs tax computation. On that basis, the purchase price was determined at Rs. 390 per MT and upheld as the relevant tax base under the Karnataka Sales Tax Act, 1957. Case-Laws VAT and Sales Tax Thu, 27 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162838