M/S. YASHA OVERSEAS vs COMNR. OF SALES TAX .

The Supreme Court addressed whether the decision in Vikas Sales Corporation Vs. Commissioner of Commercial Taxes, which held that the sale of Replenishment Licences (REP licences) was subject to sales tax, was impliedly overruled by the Constitution Bench ruling in Sunrise Associates Vs. Govt. of NCT of Delhi. The Court concluded that the principles established in Sunrise regarding the exclusion of certain items from the definition of 'goods' under the Sales Tax Act also apply to REP licences, thereby implying that Vikas is no longer good law. The Court held that the sale of DEPB (Duty Entitlement Passbook) is also not subject to sales tax, as it has materially different features from REP licences.