Basic concept of Taxable event (Levy), Quantification of tax, Collection of tax etc. – OLD
GST Law and Procedure – GST Law and Procedure [January, 2019]
GST
Various Aspect of Taxability – Taxable event (Levy), Quantification of tax, Collection of tax etc.
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\nA taxable event is that which on its occurrence creates the liability to tax, which liability does not exist at a later point of time. Even though the taxable event of a tax happens to be at a particular point of time, the levy and collection of such tax may be postponed, for administrative convenience, to a later date. – Goodyear India Ltd. v. State of Haryana [1989 (10) TMI 52 – SUPREME Court] [two member bench]
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\nIn the Goodyear India Ltd. (supra), Apex Court ha<\/p>\n
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\nThough the decision of Supreme Court in the case of Goodyear India Ltd. v. State of Haryana [1989 (10) TMI 52 – SUPREME Court] was dissented by the 3 member bench in the case of, Hotel Balaji Versus State of Andhra Pradesh [1992 (10) TMI 240 – SUPREME COURT OF INDIA], the basic principle as stated above was not touched upon.
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\nFurther, 3 member bench of apex court in the case of State of Kerala v. Alex George [2004 (11) TMI 104 – SUPREME Court] decided the issue following the principle of taxable event as decided in the case of Goodyear India Ltd. v. State of Haryana [1989 (10) TMI 52 – SUPREME Court] [two member bench]
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\nAlso see an important Decision by 5 member bench<\/p>\n
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