UP VAT Act | Definition Of “Goods” Under Sec. 2(m) And Sec. 13(1)(f) Includes Taxable As Well As Exempted Goods: Supreme Court
Case: Modi Naturals Ltd v The Commissioner of Commercial Tax Up
Coram: Chief Justice Dr. Dhananjaya Y. Chandrachud, Justice J.B. Pardiwala and Justice Manoj Misra
Case No.: Civil Appeal Nos.5822-5823/2023
Court Observation: “(d) limiting the input tax credit to the extent of tax payable on the sale value of goods or manufactured goods in cases where goods purchased are resold or goods manufactured or processed by using or utilizing such purchased goods are sold at a price lower than the purchase price or cost price;”
“We are also at one with Mr. Datar that the definition of “goods” under Section 2(m) of the UP VAT Act referred to above does not differentiate between exempt and taxable goods and equally, the word “goods” under Section 13(1)(f) of the UP VAT Act has also not been qualified by the word “taxable”.”
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