Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Definition Of Goods-Issues and comparision

Goods and Services Tax - GST - By: - parth sharma - Dated:- 13-9-2016 - Definition of Goods in Model GST law is seeing various complications which needs clarification. Comparison of definition of goods with previous laws is as under:- Model GST Law ( .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

f supply; Explanation- For the purpose of this clause, the term moveable property shall not include any intangible property. Section 2(48) Finance Act 1994. goods means every kind of movable property other than actionable claim and money; and include .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

lause, goods includes any article, material or substance which is capable of being bought and sold for a consideration and such goods shall be deemed to be marketable Section 2(15) of Raj VAT (15) goods means all kinds of movable property, whether ta .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

forming part of the land which is agreed to be severed before sale or under the contract of sale; Discussion 1.-Scrap The definition was originally borrowed from Sales of Goods Act,1932. Though the definition speaks that all movable property is goods .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e something which can be ordinarily come to the market to be bought and sold. It must be something which is known to the customers and the commercial community. In CEA, there arose a dispute regarding taxability of scrap calling it non marketable and .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

es are outside taxability criteria. This matter should be dealt in final law. Discussion 2.-Software There was a huge complexity over taxability of intangible property. RajVat includes all intangible items & transfer of right to use goods will be .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ity of uncanned software and said that it may be goods. However, even uncanned software is intangible property (goods) and transfer of right to use will be chargeable to VAT. In service tax law, temporary transfer of IPR will be liable to service tax .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ervice tax is being charged which led to double taxation. To end this double taxation, a explanation is added to make intangibles as service and would be taxed as service. Discussion 3.-Electricity Electricity is an intangible good. A separate entry .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version