Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | 2005 deferment of tax Deferment/Exemption of tax Jharkhand Value Added Tax Act |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Act(s) Referred | Jharkhand Value Added Tax Act, 2005 (5 of 2006) |
Case(s) Referred | Referred Case 0 Referred Case 1 Referred Case 2 Referred Case 3 Referred Case 4 Referred Case 5 Referred Case 6 |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Disposed Off |
Headnote | Jharkhand Value Added Tax Act, 2005 - s. 95(3)(ii) - Deferment/Exemption of tax - Benefit of - For industrial units - Units of 1st respondent granted benefit of exemption from payment of sales tax for 8 years - Units availed tax exemption from 01.08.2000 to 31.03.2006. for 6 years - Thereafter. JVAT Act withdrew exemption but allowed deferment of tax for the remaining period from 01.04.2006 to 31.07.2008 - Application by 1st respondent for conversion from exemption of tax to deferment of tax for the remaining period as also challenging the withdrawal of exemption - Application rejected - In appeal, the High Court granted deferment of tax, however. upheld the withdrawal of exemption - On appeal, held: Notification lays a clear postulate that repayment of total deferred amount shall have to be done in ten equal six monthly instalments in such a manner so as to be completed within 13 years from the date of start of deferment - Words "from the date of start of deferment" have to have nexus with the policy stated in the beginning'. In the instant case. period of exemption has been converted to period of deferment of tax - It is for 8 years - Repayment schedule is 5 years from the expiry of eligibility period of deferment - Period of 5 years has to be so arranged that it does not go beyond 13 years from the date of deferment- Thus, the repayment schedule has to end on 31.08.2013 within a span of 5 years from the expiration of the eligibility period - Owing to special features, no penalty imposed - Assessee had already deposited the amount in pursuance of the order of this Court - As such the assessee to pay 12% inrerest per annum - Bihar Finance Act, 1981 - s. 23A - Jharkhand Value Added Tax Rules. 2006 - rr. 64, 66. |
Judge | Honble Mr. Justice Dipak Misra |
Neutral Citation | 2016 INSC 160 |
Petitioner | State Of Jharkhand & Ors. |
Respondent | Tata Steel Ltd. & Ors. |
SCR | [2016] 1 S.C.R. 931 |
Judgement Date | 2016-02-12 |
Case Number | 4285 |
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