On 15″ May, 2023the Supreme Court decided that Free of Cost (‘FOC’) replacement of defective parts (under warranty) as between Automobile Dealer (Assessee) and end-customer, is in actuality a ‘taxable sale’ of such spares as between the Dealer and the Original Manufacturer (‘OEM’). This decision afflicts a severe blow to Automobile Dealers.
Source: taxmanagementindia.com
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