https://www.taxtmi.com/caselaws?id=292976 Value added tax paid on purchases is not included in the base for computing taxable turnover of purchases under section 11(3)(b) of the Gujarat Value Added Tax Act, 2003, because "purchase price" in section 2(18) is an inclusive definition and the statutory scheme refers only to specified duties under the Central Excise Tariff Act and the Customs Act. Reading sections 2(18), 2(30), 2(32) and 11(3)(b) together, the Court stated that VAT paid on purchases must be excluded from the computation, and amounts collected under a statutory obligation do not form part of taxable turnover. The Tribunal's view was held consistent with the statutory language and binding authorities. en-us Fri, 22 Apr 2016 00:00:00 +0530 Sat, 16 Jan 2021 22:03:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292976 Value added tax paid on purchases is not included in the base for computing taxable turnover of purchases under section 11(3)(b) of the Gujarat Value Added Tax Act, 2003, because "purchase price" in section 2(18) is an inclusive definition and the statutory scheme refers only to specified duties under the Central Excise Tariff Act and the Customs Act. Reading sections 2(18), 2(30), 2(32) and 11(3)(b) together, the Court stated that VAT paid on purchases must be excluded from the computation, and amounts collected under a statutory obligation do not form part of taxable turnover. The Tribunal's view was held consistent with the statutory language and binding authorities. Case-Laws VAT and Sales Tax Fri, 22 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292976