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State government has the power to impose

tax on sale or purchase of goods other

than newspapers, subject to the provisions of

entry 92A* of Union List.

 

What are Goods?

Goods include materials, articles, commodities and all kind of movable property.

However it does not include

Newspapers

Actionable claims

Stocks /shares and securities

 

Note:-

Both tangible and intangible goods (like softwares) covered.

Immoveable property not covered.

Plant and machinery erected at site is not goods as it is an immoveable property

  1. Indirect Tax
  2. Vat
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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