Court Upholds VAT on Set Top Boxes, Rejects Petitioners' Depreciation Claims on Usage Rights Transfer to Customers.

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....Levy of VAT on set top boxes (STB) - The petitioners claim depreciation, etc., on these STBs and the valuation given by the petitioners is the value of the goods, the right to use which has been transferred to the customers - Levy of VAT upheld - HC....