https://www.taxtmi.com/caselaws?id=168003 Where a fiscal subsidy under the Rajasthan Investment Promotion Policy, 2003 is linked to "tax payable" under a VAT regime, the expression is construed as net tax payable after input-tax credit, not gross output tax. The VAT framework under the Rajasthan Value Added Tax Act, 2003 treats liability on value addition and allows set-off of input tax, and the policy language referring to tax payable and deposited supports that reading. The Finance Department's clarification limiting subsidy by reference to net tax payable was therefore consistent with the policy and valid. en-us Thu, 24 Nov 2011 00:00:00 +0530 Thu, 01 Jan 2015 22:09:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168003 Where a fiscal subsidy under the Rajasthan Investment Promotion Policy, 2003 is linked to "tax payable" under a VAT regime, the expression is construed as net tax payable after input-tax credit, not gross output tax. The VAT framework under the Rajasthan Value Added Tax Act, 2003 treats liability on value addition and allows set-off of input tax, and the policy language referring to tax payable and deposited supports that reading. The Finance Department's clarification limiting subsidy by reference to net tax payable was therefore consistent with the policy and valid. Case-Laws VAT and Sales Tax Thu, 24 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168003