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

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.