Goods - Law Dictionary Search Results
Home Dictionary Name: goods Page: 3Tax-free goods
Tax-free goods, means goods against which the rate of sales-tax is shown to be nil in the Schedule and 'taxable goods' means goods other than tax-free goods. [Maharashtra Value Added Tax Act, 2002, s. 2(30)]...
Taxable purchase value of goods
Taxable purchase value of goods, shall mean the purchase price at which a dealer has purchased the goods inclusive of charges borne by him as cost of transportation, packing, forwarding the handling commission, insurance, taxes, duties and the like or if such goods have not been purchased by him, the prevailing market price of such goods in the local area. [Rajasthan Tax on Entry of Goods into Local Areas Act, 1999, s. 2(r...
Those goods
Those goods, the words 'those goods' in s. 5(3) of the Central Sales Tax Act, 1956 are clearly referable to 'any goods' mentioned in the preceding part of the sub-s. and it is therefore obvious that the goods purchased by the assessee and the goods exported by him must be the same, Sterling Foods v. State of Karnataka, AIR 1986 SC 1809 (1811): (1986) 3 SCC 469: (1986) 3 SCR 367....
Value of goods
Value of goods, means the value as ascertained from the purchase invoices or bills and includes insurance charges, excise duties, countervailing duties, value added tax, sales tax, transport charges, freight charges and all other charges incidental to the transaction of the goods:Provided that where the purchase invoices or bills are not produced or when the goods are acquired or obtained otherwise than by way of purchase, the value of goods shall be the value at which the goods of like kind or quality are sold or are capable of being sold in open market. [Gujarat Value Added Tax Act, 2003, s. 2(35)]...
good faith
good faith [translation of Latin bona fides] : honesty, fairness, and lawfulness of purpose : absence of any intent to defraud, act maliciously, or take unfair advantage [filed the suit in good faith] [negotiating in good faith] see also good faith exception, good faith purchaser compare bad faith NOTE: The meaning of good faith, though always based on honesty, may vary depending on the specific context in which it is used. A person is said to buy in good faith when he or she holds an honest belief in his or her right or title to the property and has no knowledge or reason to know of any defect in the title. In section 1-201 of the Uniform Commercial Code good faith is defined generally as “honesty in fact in the conduct or transaction concerned.” Article 2 of the U.C.C. says “good faith in the case of a merchant means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.” Similarly, Article 3 on negotiable inst...
Capital goods required for manufacture of
Capital goods required for manufacture of, means goods which are used in the manufacture of that product and also goods which would be required for manufacture or production of other goods including packaging machinery and equipments, Pankaja v. Yellappa, (2004) 6 SCC 408....
Substantial portion of such goods
Substantial portion of such goods, the expression 'substantial portion of such goods' in s. 115(1)(e) has been used to mean substantial portion of the goods that have been imported keeping in view the quantity as well as the value of the goods that have been imported, India Steamship Co. Ltd. v. Union of India, AIR 1998 SC 1955 (1958): (1998) 4 SCC 293. [Customs Act, 1962 s. 115(1)(e)]...
Consumers goods
Economic goods that directly satisfy human wants or desires such as food clothes pictures etc called also consumption goods or goods of the first order and opposed to producers goods...
Appropriation of goods
Appropriation of goods, Upon a contract for sale of unascertained or future goods is an act identifying goods specifically with the contract. The appropriation may be made by either party with the express or implied consent of the other absolutely or conditionally or revocably, delivery to the buyer or a bailee without any reservation of the right of disposal transfers the property. See (English) Sale of Goods Act, 1893 (56 & 57 Vict. c. 71) s. 21....
When the goods should have been delivered
When the goods should have been delivered, the date when the goods should have been delivered for the purpose of the Third Clause of the 6th paragraph of Art. III of the Act is the date when the ship by which the goods were contracted to be carried has left the port at which delivery was to be made, East & West Steamship Co. Ltd. v. S.K. Ramalinga, AIR 1960 SC 1058 (1067). [Carriage of Goods by Sea Act, 1925, Sch. Art. III para 6, Clause 3]...
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