Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: cpt :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: form 3cd :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD
 
 
« General »
 Tax Department To Launch 2nd Phase Of Bank Accounts' Scrutiny Next Month
 How to claim tax benefit on tuition fees under Section 80C
 Online Income Tax grievance redressal facility launched at 60 offices
 Demonetisation impact on government tax revenue marginal; direct tax personal income grew at above budget estimates
 ICAI seeks more accountability, transparency in defence sector
 Will Budget help double farmers’ income?
 Verify online deposits made post demonetisation, income tax department asks taxpayers
 Union Budget 2017: Best budget is do not change anything, do no harm, implement well
 Why salaried class deserves standard deduction
 3 new taxes that Modi government could introduce, but won't
 Tax gains may showcase demonetisation windfall

SC drops Pepsico petition against sales tax demand
April, 07th 2011

The Supreme Court has dismissed the petition of beverages major Pepsico that challenged the imposition of sales tax on rentals collected from its distributors for glass bottles and crates.

A bench comprising justices Munkundakam Sharma and A R Dave dismissed the petition of Pepsico India , a unit of the US-based foods and beverages major, challenging the direction of the taxing official to pay sales tax on the rentals.

The sales tax department of Uttar Pradesh had directed the company to pay the duty on Rs 8.5 crore collected from its distributors in 1999-2000.

The officials also directed Pepsico to pay interest on the sum acquired from rentals of glass bottles and crates.

Pepsico contended that it did not constitute a sale under the UP Trade Tax Act. Rental on glass bottles and crates did not amount to transfer of right to use the goods for value.

However, the Supreme Court rejected the contentions of Pepsico by observing that the company in its accounts itself mentioned the revenue generated from it.

"In the present case, the appellant (Pepsico) has themselves mentioned in their account the turnover in respect of rentals by distributors of glass and crates. However, Pepsico has disputed that the said turnover is liable to tax," the bench said.

Earlier, Pepsico had approached the Lucknow bench of the Allahabad High Court seeking revision of the tax demand, which dismissed its petition in December 2007.

Following it, Pepsico approached the Supreme Court, which has also dismissed its petition.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions