https://www.taxtmi.com/caselaws?id=446988 The Delhi HC rejected a bank's challenge to the constitutional validity of the "dealer" definition under the Delhi VAT Act, 2004, which includes corporations engaged in commercial banking. The court held that the DVAT Act expressly provides for tax charges on sale of goods subject to exemptions and adjustments, rejecting the petitioner's argument that no tax was payable on goods sales due to lack of value addition. The court clarified that while the VAT scheme provides tax credits to avoid cascading effects, this doesn't eliminate the fundamental charge on goods sales. Following precedent from HDFC Bank and Citi Bank cases, the petition was dismissed. en-us Tue, 05 Dec 2023 00:00:00 +0530 Fri, 15 Dec 2023 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446988 The Delhi HC rejected a bank's challenge to the constitutional validity of the "dealer" definition under the Delhi VAT Act, 2004, which includes corporations engaged in commercial banking. The court held that the DVAT Act expressly provides for tax charges on sale of goods subject to exemptions and adjustments, rejecting the petitioner's argument that no tax was payable on goods sales due to lack of value addition. The court clarified that while the VAT scheme provides tax credits to avoid cascading effects, this doesn't eliminate the fundamental charge on goods sales. Following precedent from HDFC Bank and Citi Bank cases, the petition was dismissed. Case-Laws VAT and Sales Tax Tue, 05 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446988