High Court Rules: Dealer Subsidies Excluded from Turnover in VAT Calculations Under KVAT Act, Section 2(iii) Explanation VII.

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....Valuation - subsidy - includibility - even in spite of the incorporation of Explanation VII to Section 2(Iii) of the KVAT Act, the legal position that subsidy received by dealers like the respondents herein cannot form part of their turn over remains unaltered - HC....