https://www.taxtmi.com/caselaws?id=335420 A government-owned corporation printing and supplying currency notes for consideration was held to be carrying on business and therefore a dealer under the State VAT law. The Court treated currency notes printed before issuance as movable property and hence goods, and found that their supply to the Reserve Bank of India involved transfer of property for value, satisfying the elements of sale. It also held that Article 285 of the Constitution does not exempt indirect taxes such as VAT, entry tax, or sales tax-related imposts. On those grounds, the writ petitions failed. en-us Mon, 03 Oct 2016 00:00:00 +0530 Sat, 17 Mar 2018 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335420 A government-owned corporation printing and supplying currency notes for consideration was held to be carrying on business and therefore a dealer under the State VAT law. The Court treated currency notes printed before issuance as movable property and hence goods, and found that their supply to the Reserve Bank of India involved transfer of property for value, satisfying the elements of sale. It also held that Article 285 of the Constitution does not exempt indirect taxes such as VAT, entry tax, or sales tax-related imposts. On those grounds, the writ petitions failed. Case-Laws VAT and Sales Tax Mon, 03 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335420