VAT Paid On Purchases Is Required To Be Excluded For Computing Taxable Turnover Of Purchases U/S 11(3)(b) Gujarat VAT Act: SC
The Supreme Court held that the Value Added Tax (VAT) paid on purchases is required to be excluded for computing taxable turnover of purchases under Section 11(3)(b) of the Gujarat Value Added Tax Act, 2003 (GVAT Act). The Court held thus in civil appeals filed by the Gujarat State against M/s. Ambuja Cement Ltd., challenging …