https://www.taxtmi.com/caselaws?id=347923 Subsidy receipts under the fertiliser and petroleum subsidy schemes were held not to form part of taxable turnover under the Kerala Value Added Tax Act, 2003. Explanation VII to the turnover definition was construed as covering only cases where goods are sold below purchase price and the dealer later receives reimbursement of the balance sale price. Because the subsidies were paid under independent schemes and were unrelated to the bargain between seller and purchaser, they were treated as amounts outside the sale consideration and outside turnover. The issue was decided in favour of the assessee. en-us Tue, 01 Aug 2017 00:00:00 +0530 Wed, 25 Apr 2018 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347923 Subsidy receipts under the fertiliser and petroleum subsidy schemes were held not to form part of taxable turnover under the Kerala Value Added Tax Act, 2003. Explanation VII to the turnover definition was construed as covering only cases where goods are sold below purchase price and the dealer later receives reimbursement of the balance sale price. Because the subsidies were paid under independent schemes and were unrelated to the bargain between seller and purchaser, they were treated as amounts outside the sale consideration and outside turnover. The issue was decided in favour of the assessee. Case-Laws VAT and Sales Tax Tue, 01 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347923