What sales are covered under VAT Law?
Definition of “sale” under the VAT may includes- i. The conventional sale, i.e. transfer of property in goods. ii. Supply of goods by a society, club, firm and company to its members. iii. Transfer of property in goods involved in execution of works contract. iv. Delivery of any goods on hire purchase or any other system of payment by installment. v. Transfer of right to use any goods on hire for any purpose, whether or not for a specified period. vi. Supply, by way of or as a part of any service or in any other manner whatsoever, of goods being food or any other article for human consumption of any drink (whether or not intoxicating).
