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Report No. 61

Point 3-section 2(0-definition of Sale and Element of Valuable Consideration

Section 2(g), Central Sales Tax Act, should be amended so as to adopt the interpretation placed by the Supreme Court,1 namely, that the expression "valuable consideration" (in the definition of sale) means some payment in the nature of cash or deferred payment.

1. Devi Dass v. State of Punjab, (1967) 20 STC 430 (444, 445) (SC).

[Chapter 81



Certain Problems connected with Powers of the States to Levy a Tax on the Sale of Goods and with the Central Sales Tax Act, 1956 Back




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