Monday 17 March 2014

No retro-exemption which was conditional upon non-collection of tax if tax was collected by assessee

CST & VAT : Where retrospective exemption is allowed subject to condition that assessee had not collected tax on sale, said exemption could not be allowed to an assessee who had collected tax from customers; assessee's argument that tax was collected as 'deposit' and not 'tax' was rejected


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