Sales Tax on LPG Cylinders payable on price finalized by MoP & NG

Ms Universal Cylinders Limited Vs Commercial Taxes Officer (Supreme Court of India) In the instant case, when the orders were placed with the assessee, the price was not finalized by the MoP & NG. There was a clear cut stipulation in the purchase order that the price of Rs.682/­ is only a provisional price subject to review and it was clearly understood by the parties that the final price applicable after 01.07.1999 will be the price as approved by the MoP & NG. Therefore, though the assessee may have received Rs.682/­ per cylinder, it was under a legal obligation only to receive tha...