Levy of Tax on containers and Packing material 14

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b) transfer of property in goods (whether as goods or in some other form) involved in execution of a works contract; c) delivery of any goods on hire purchase or any other system of payment by instalments; d) transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration; and such transfer, delivery or supply of any goods shall be deemed to be a sale of those goods by the person making the transfer, delivery or supply and purchase of those goods by the person to whom such transfer, delivery or supply is made, but does not include a mortgage, hypothecation, charge or pledge. (ii) 'Purchase' with all its grammatical variations and cognate expressions means any transaction of acquiring property in goods against valuable consideration or deferred payment by a dealer on purchase of taxable goods as mentioned in schedule VIII including any sum charged for, (a) anything done by the seller with or in respect of the goods at the time of or before delivery thereof and (b) containers or other materials for the packaging of such goods.1 (26) “Sale price” means the amount of valuable consideration received or receivable by a dealer for the sale of any goods less any sum allowed as cash discount, according to the practice normally prevailing in the trade, but inclusive of any sum charged for anything done by the dealer in respect of the goods or services at the time of or before delivery there of, excise duty, special excise duty or any other duty or taxes except the tax imposed under this Act "and 'purchase price' means the amount of valuable consideration paid or payable by a dealer on purchase of taxable goods as mentioned in schedule VIII." 2

2, 3 Inserted vide the TVAT (Amendment) Ordinance, 2007 (w.e.f 17-7- 2007) and subsequent legislation vide the TVAT (Amendment) Act, 2007(dt. 9-10-2007)